Corex...the big question!I am an investor in Cge,fmg,mai...with significant holdings in fmg ! I believe that this are is very minerally rich and it will unfold very soon I hope! It surprises me that there are not more informed posters on this board who maybe have done some homework plus perhaps talked to management about the prospects of Cge and maybe have opinions about future profits of Cge!
i have no Geo background but the heap leach process is not that complicated. With a little DD it is not that difficult to speculate on the possibilities.
Most of the drilling on cge particularly shows fairly low grades...mostly around 1g/t of gold! Just using the Kitco rock calculator from another site..that translates to a rock value of 36$ per ton of rock!
heap leach process is very efficient and costs are low and recovery high! Chester Millar was a pioneer of using this process! The all in costs to process each ton are probably around 18-20$ a ton..based on what I have read.The is a lot of info..do you own DD!
so let's assume for start up volumes Cge could process between 2000-4000 tons per day...using A 20$ all in cost..Cge would make approx 16$ per ton...at low end that would be $32,000 per day at high end it would be 64,000$ a day. $ 180,000 week -360,000$. For round numbers let's say easily 1 million a month or 12$ million a year! Those are not big numbers in the gold mining business but would still translate to 12$ million a year or approx 10 cents per share! Then assuming there is enough ore the production could be doubled or tripled! I would think it would support a stock price of around 50 cents to start with and maybe 1.00$ later. Anyways this is my take if anyone can improve on those numbers be my guest!
Btw..if you are wondering why I have held in so long and invested so much more in FMG...it is because all the grades trending toward the fmg property are 2-3 times higher than Cge!
Happy New Year to all investors in this area!