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I'm with you on that one kennas! When I saw under 1m I was a bit shocked - obviously the top cut method has had a pretty significant impact on the really high grade core that's there...in the order of 2-300koz from what I saw, which would put it closer to the 1.2Moz. Still below what we thought would come outThe improved grades for the early years of production though IMO makes for a more likely takeover - if PRU can be producing 450koz/annum @$500ish that's a nice little free cash flow of $225m/annum by 2013 assuming $1000/oz which is pretty conservative. Slap a multiple of 6 on that and that's a 50% premium on current MC.Oh well, wait and see as usual.
I'm with you on that one kennas! When I saw under 1m I was a bit shocked - obviously the top cut method has had a pretty significant impact on the really high grade core that's there...in the order of 2-300koz from what I saw, which would put it closer to the 1.2Moz. Still below what we thought would come out
The improved grades for the early years of production though IMO makes for a more likely takeover - if PRU can be producing 450koz/annum @$500ish that's a nice little free cash flow of $225m/annum by 2013 assuming $1000/oz which is pretty conservative. Slap a multiple of 6 on that and that's a 50% premium on current MC.
Oh well, wait and see as usual.
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