CTO 0.00% 0.5¢ citigold corporation limited

falling knife, nightmare before christmas, page-37

  1. nk
    2,890 Posts.
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    find8 the capitalised development cost for the year ended 30 June 2009 were $23million. For the quarter ended 30 Sept 09 $2.5million for 2,500 ounces, or $1000 an ounce. Exploration/evaluation for that quarter was $1.6million

    You could be generous and say going forward these costs will be capped at $3million per quarter for 10,000 ounces or $300 an ounce. In fact DOM development costs is over $180 an ounce at times for a high grade well managed mine, so I would say $300 is very generous with this mine at a production rate of 40,000 ounces pa

    on top of that you have the admin of around $3million pa or say another $50 an ounce

    so our real cost at 40,000 ounces pa is likely to be close to $900 an ounce. I use around $850 an ounce total cost for BDG. The secret to BDG is the bonanza zones which can produce massive short term profits


    so under 30,000 ounce pa CTO is break even at best. Even at 50,000 ounces pa shareholders wont see return
 
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