I think the fuss is that this company seems to atract all the knockers.
As I said in my last post, even if they got $150 million for Ravenswood it's 19.8 cents per share which would leave a market value of about $737 million for the company (EV = $799 million).
I suppose it depends on your view of the company meeting it's feasibilty target for Syama. Based on feasibilty Syama has a longer mine life and more probable reserves and lower AISC (combined) on paper than any asset owned by any of its Australian domiciled peers (I'm pretty sure about this but I will go through the list and check, see below).
Syama mine life 2032, Syama probable reserves 35.2Mt at 2.7 g/t for 3Mozs, LOM AISC US$746/oz. This doesn't include oxide or sulphide satellite pits or potential UG depoists at Nafolo or Tabakoroni etc.
SBM's Gwalia current mine life 2024 (with $A100 million extension plan), Gwalia probable reserves 6.061Mt at 7 g/t for 1.368Mozs. I can't find a LOM AISC for the next 5 years for Gwalia but FY2019 is forecast to rise to A$950oz. Also the Gwalia Mass Extraction project has a feasibilty due in the March 2019 quarter that could extend mine life to 2031 but I expect it will need a lot of CapEx. Does anyone else know where I can find the average LOM AISC for the GEP or the GME?
SAR's Carosue dam, Carosue Dam probable reserves 15Mt at 2.5g/t for 1.2Mozs (note this includes 6 seperate deposits plus stock piles, Syama's 3Mozs of probable reserves are in a single deposit).
SAR'a Thunderbox mine has probable reserves of 22Mt at 1.7 g/t for 1.2 Mozs (note this includes reserves from an additional two open pits and the UG reserves at Thunderbox). I can't find the current mine lives of these two mines or their LOM AISC in the September quarter presentation (lots of pretty pictures which I hope for SAR shareholders sakes will sustain their mines out to 2032......lol). Maybe someone else who follows or owns this company can quote the remaining life of mine and LOM AISCs for these two mines.
I'll continue with this list in a little while. I don't know why I bother really.Esh
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