RE:Due Dilligence Analysis: Is ANX Undervalued? (part 2)Lot of work went into this DDD...thank you.
The ANX PEA that is due out in Q2 will be a key millestone for the company and IMHO will make a big statement and should attact big investment.
Here are my thoughts...
ANX has changed the mining approach at Goldboro. Instead of an initial 400 meter long pit and underground, ANX is going with a MUCH larger open pit and future underground as well as vastly increasing the tonnes processed per day (now 4000 tonnes per day). The economics of mining more tonnes per day should make this new PEA more robust as compared to the previous approach.
ANX has been doing open pits for over a decade and know what they are doing from a mining and economics perspective so to change Goldboro to a bigger pit and more tonnes per day would lead me to believe that the company sees more robust economics wth this bigger appoach for Goldboro...if not, do not change the approach...keep the course.
We as yet do not know the stripping ratios (waste to ore) cost for mining, cost for the mill etc, we do know the grade 2.86 which is FANTASTIC, but at this point we and the big investors do not have a good picture yet on the overall economics of this new approach for Goldboro. I would bet that many are sitting and waiting to read the PEA report before jumping in and to DDDs point move the stock price up handsomly.
So PEA will be a big report and yes should attact lots of excitement for Goldboro/ANX...hopefully in the meantime, Tilt Cove can suprise with some new potential ore for the PR mill.
Agreed the EA scheduled for Q4 will be THE biggest milestone to date for Goldboro...a key report indeed...2.00+ BY YEAR END WOULD BE SWEET.
Thanks again DDD
BLOW UP THE BEAST