That Arabic Consortium....Is really interested in the Al Hariqah property. They have visited the site and have asked for the pre feasibility study which is obviously not done yet. Cantex is providing access to all the info on AH to them.
I don't know if Chad was prepared to have the info on this Arabic Consortium released at the AGM. Did anyone else notice how Chad's head snapped around when Chuck mentioned Chad's recent visit with them in Jordan. I thought that we would have to get a neck brace for Chad to finish the AGM. I could almost hear him saying, Shutup Chuck!
Cantex has done new back of the envelope guestimates on AH with gold prices between $750/oz and $1500/og gold. Two tables were presented based on 40 and 60 million tonnes.
Examples in USD
40 Mt
Gold Price After tax profit IRR % NPV
900 221 36 84
1000 346 51 156
60Mt
900 458 53 209
1000 560 61 266
Also telling to me was Chuck's statement regarding our value with the rising price of gold. His exact words were "coming into production" and went on to relate how the market will react to that. Another glance from Chad followed!
P10