Looking at the gold situation if ERL had been pumping out the...

Looking at the gold situation if ERL had been pumping out the gold last year rather than now they would've earn't less : US $1175.96  AU 1474.37 in  in 2016


currently we are sitting on US $1268.80  AU $1,591.33
http://www.pmbull.com/gold-price/



ERL’s ore reserve has been calculated at a gold price of AU$1500 per ounce using a lower cut-off grade of 1.41g/t Au


the underground mine potential is backed up by a JORC Indicated and Inferred gold resource of 170,000t @ 5.40g/t Au beneath the planned pit floor.

The cost of production, which sits at AU$1,086/oz. according to the BFS, is believed to generate revenues of between AU$29.6m- AU$33.6m in the first year of full production. If all the cards fall in place the company could be cash-flow positive within eight months and generate $7.6M in free cash flow in less than a year, with every AU$100/oz. increase in the gold price above AU$1,500/oz. leading to an additional AU$2 million in free cash flow.

http://www.asx.com.au/asxpdf/20160621/pdf/4380ttjb1b1qf7.pdf

so imo now is a better time to get this rolling (as they are doing ) better than them doing it last year..more bang for your bucks this year.



there is a bullish trend about gold atm..so US 1300 AU 1629.25  is coming this is certainly a good time to be investing in anything gold..ERL should have a good year..as should those investing with them..very low buy in price considering the potential outcome..GLTAH..