Past year: ▼ 49%(18.0c – 37.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Feb 2015resource reserve update▲ GoodMajor
The company released its positive Molo Feasibility Study, showing post-tax NPV (10%) of US$389.8 million, IRR of 31.2%, payback of 4.84 years, capital cost of US$149.9 million (US$188.2 million in total) and a 26-year mine life. The figures assume 50% debt funding and a satisfactory investment agreement under Madagascar's mining investment law, and the CEO targeted offtake, project financing and production by 2017.
19 July 2007drilling result▲ GoodMajor
The company reported its first notable drill result on the Sagar property in Quebec: one vertical reverse circulation hole hit 4.5 meters averaging 22.7 g/t gold, including 31.5 g/t over 3 meters, in bedrock. The values come from an on-site XRF analyser and have not yet been checked against commercial lab fire assays (ALS Chemex), so they may vary; more drilling is needed to find the true width. This is the first drill result following the drilling start in March, and the company still has 7 priority targets to drill in its search for the source of the Mistamisk boulders.
7 Mar 2007drilling progress report▲ GoodMajor
On March 5, 2007 the company announced that two reverse circulation drills are in place on the Sagar uranium-gold project in northern Quebec and expected to be fully operational the following week, with ground geophysics well advanced and camp construction complete. The program aims to find the source of the Mistamisk boulders, which a Virginia Mines report says averaged 64.9 g/t gold and 1.3% uranium across 70 boulders. This is the start of exploration spending on Sagar, the purpose of the recent financings; no drilling results yet.
14 Aug 2006drilling result● Neutral
On August 9, 2006 the company announced it acquired 69 mineral claims next to Rodinia Minerals' Workman Creek uranium project in Arizona, adding to its Arizona holdings. It also said it is currently focusing exploration on the Sagar property in Quebec and had recently acquired 20 claim reservations in two areas of Finland, which indicates the Finland claims moved forward. The release cites a neighbouring Rodinia inferred resource, not a resource on the company's own claims; no drilling results of its own are given.
