NAG 5.17% 5.5¢ nagambie resources limited

Is this the pits...or what!

  1. 36,691 Posts.
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    Just PASSing some time

    About 130,000 oz of gold were retrieved from the Nagambie pits in the 90s for an estimated average POG of about $750 of which about $500 would have been the cost and $250 per oz the profit

    These are not actual figures - just my estimates - please feel free to adjust accordingly

    That equals about $32-33 million profit over 5 years or $6-7 million per year

    These pits will now be able to take about 6.2 million tonnes of PASS over the next few years. With estimated PASS net income at about $100 per tonne - that equals about $620 mill

    Even if we stretch this over 10 years - that's still over $60 million per year just for PASS

    That's almost double what they made out of gold in the 90s - just thanks to those two pits

    Is this the pits or what

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