Post by
nozzpack on Jul 10, 2024 11:18am
Excellent BUY on Increasing Gold Production at low cost
Galaxy mill has been upgraded to 50,000 tons versus 15,000 tons .
Work has also progressed well on the refurbishment of the existing mining fleet to improve equipment availabilities and to further develop the Galaxy and Princeton ore bodies to increase production. They just delivered the first ore to the plant from Princeton Which will provide immediate accretive production ounces up to 15000 ounces per year at exit 2024 from 6000 ounces in Q1/24.
As new mining fleets are added, exit production in 2025 will rise to 48000 ounces per year.
Just 72 million shares .
Outstanding Nevada mine awaiting non dilutive financing .
15000 ounces @$3000 cad per ounce means $45 million in annual revenues at current phase 1 expansion with about $20 million in operating earnings which is about $0.30 per share .
At just 5 times, fair value on just Phase 1 expansion is over $1 per share..