tom's gully seems to be similar to nst's paulsens mine in that it is high grade , the start up costs are low ( approx. $30 mill ) , open at depth, so potential to increase resource , all in costs are about the same and a quick payback time ( especially when gold price goes up )
nst market cap as at 18/12/2013 is about 290 mill , pgo is about 8 mill
I don't put much value on rustlers roost at the current gold price but certainly another string to the bow when gold is sustainably around the aus$1800+ price
I've taken a stake today as I believe with a bit of luck and good management it will replicate the performance of nst which means a market cap significantly higher than today
others thoughts!!
cag
PGO Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
