EGA price targets - $0.87 to $1.64 (18-30 months), page-16

Spent a bit of time looking at discovery rates. My annotations (in blue) are on a slide from the RSS Presentation.

Their peak discovery was between May 2017 and July 2018 ( 14 months ) and they added 139,000 Ozs.

Their production ounces for life of mine currently make up approximately 70% of the ounces in the resource.

If they can add 100,000 ounces per annum to the resource then they should be able to add 70,000 ounces of production ( or 1 year of production, noting first 2 years of production planned at 64,000 ounces ). However if they grow their discovery rate at 10% per annum, they should be able to gradually grow their production ounces per annum  ( which is what we want ideally want for sustained growth in P/E ).




From the investor presentation there seems to be plenty of scope for growth of the resource along strike but I wonder how deep this ore body can go?