I think you may not be allowing for the fact the copper figure is in concentrate, this would be about 15,000 tons of copper metal.
$115m for copper
$174m for gold
The large amounts of copper credits are what makes Mungana such a sleeper, it makes the Gold cash cost sub $350 an ounce. When it was discussed at an agm about 4 or 5 years ago they were pretty confident this area would be a very large resource when they did more drilling. So far their predictions are coming true. A very large low grade deposit in the Ridgeway style which when bulk mined produces cheap gold, i think Ridgeway at times has had a negative cash cost for gold after credits.
I have read on here at times people saying they just cant see how it can be mineable at those grades, they need to look at ridgeway to see how. This also goes for Admiral Bay, no knockout grades but when you mine 10m tons a year you get huge amounts of lead and zinc at a relatively cheap price.
KZL Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
