gold rush 2003

  1. 1,452 Posts.

    i’m looking for the best unhedged gold plays
    expecting gold mania 2003-4 so need 2 or 3 more
    below is a pearler I already hold. looking for others like this
    also searching out a couple of larger producers
    but preferably the little unknown sleepers
    ten bagger chances. which ones?

    my 2c worth =

    SMO - unhedged and holds an indicated resource of 271,100 oz gold
    with exploration licences covering 350 square kilometres of
    highly prospective exploration tenements in the charters towers area
    production stepping up from 24,000 to 40,000 oz AU p/a
    operating costs falling while gold price rising.
    US$337 today!!! AU$595 /oz !!!
    which should see SMO turn a $2,000,000 plus profit FY03
    based even on todays gold price, production levels & costs.
    but potential for up to double that (or half if gold falls back below US$300)
    still not bad for a gold producer with cap of $2.6m

    2000 –
    Cash Operating Cost @ $AUD 588 per Ounce Produced
    Average grade of 4.06 g/t
    September Quarter an unaudited net Profit of ($369,564)

    2001 –
    Cash Operating Cost @ $AUD 482 per Ounce Produced
    Average grade of 3.56 g/t
    Sold 19,622 ounces at an average price of $525.82 per ounce.
    September Quarter an unaudited net Profit of ($434,695)

    2002 –
    Cash Operating Cost @ $AUD 437 per Ounce Produced
    Average grade of 5.34 g/t
    Sold 23,581 ounces at an average price of $568 per ounce.
    September Quarter an unaudited net Profit of $268,265

    2003 –
    Cash Operating Cost @ $AUD 450(e) per Ounce Produced
    Average grade of 4.89(e) g/t
    Sold 25,000(e) ounces at an average price of $600??? per ounce.
    FY03 unaudited net Profit of $3,000,000 ???

    "Tell 'em they're dreamin"

    gb
 
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