Under the radadGreetings from a prospective shareholder. In the next few days I will be starting a position here and was wondering why other current shareholders own this.
I'll share why I'm intersted... 1.7M oz (most likely to be increased in the coming months), with 500K oz in saprolite from surface. I don't think the market understands the quality of this resource! Over 1gpt within 100m of surface starting in saprolite, this is going to be a low CAPEX extremeny low OPEX project. Not to mention a strip ratio of around 1:1. Cerrado recently released a PEA with only 1m oz wiht a slightly higher grade and a Strip ratio of 10:1 and it has a NPV of over 500mil due to low CAP/OPEX. It's not a stretch of the imagination to say that GXS could achieve something similar.
Secondly, the Chairman, Mr Fier. I've learned to stop betting against successful people repeating success. FIrst Silvercrest, then Silvercrest 2.0. The guy just knows a good project. I'm willing to bet with him.
10mil cash with a 50mil capex. If you're willing to wait for production, this could be seriously re rated. I'm struggling to find better risk/reward in the gold space right now.
Woudl love to hear others thoughts...