CHZ 4.17% 12.5¢ chesser resources limited

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  1. 268 Posts.
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    Not entirely fair to hoist the CR red flag on a day they announce they have raised cash by divesting assets.
    And its not long since the much upgraded mineral resource. Yes, we know its not what we wanted (1 million ounces) but it is substantial (700,000 ozs) and has "73% of the Indicated Mineral Resource at a grade of 3.69 g/t gold is within 50 metres of surface" suggesting some early wins.
    The project has a modest estimated capital requirement ("$88 million"). Planned production of 100,000 oz per year should deliver a pretty early capital pay back and substantial profits. Over seven years the revenue (before costs) is looking like over a billion dollars. Not bad for a company with a $21 million market capitalisation.
 
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