Thanks for posting the link. You are right - an excellent article. It really does explain very well the significance of this project.
It would appear there is a very real possibility of proving a million ounce resource, and that is an extremely exciting prospect.
What makes it even better is the current operations are being improved to enable Ashburton to receive the equivalent of 5,000 ounces of gold per year and therefore fund further exploration and hopefully the development of the major mining operation. Not many exploration minnows can make this claim.
I guess there may be a need for one further capital raising to get the process up and running, but after that the whole thing may well be self-funded.
I'd like to hear from someone with more knowledge in this area, but I'm thinking if they can produce 50,000 ounces a year (which I believe is an achievable target if the resource is proven) then net revenue after production costs would be in excess of $50 million. That would have to increase our market cap 10-fold.
I'd be happy with that.
ATN Price at posting:
3.8¢ Sentiment: LT Buy Disclosure: Held
