RE: June incoming29 May 2026 09:19
With Raglan now in production and generating profit then you would not stop the 'tiny' £1m+ this could potentially generate in profit ( actual profit awaiting initial results). Also Raglan is a separate crew so won't impact Maddens.
Coco, good to see that you recognise that Maddens is such a prosperous prospect and they are progressing this to be producing in 3-4 months with the crew there.
You would assume that they will also fully survey/test the rest of the Maddens prospect to identify other potential mining areas , at which point they may double down on crews/mines producing.
Having Raglan & Maddens producing concurrently also makes sense as any shutdown at one (breakdown/maintenance, etc.) means that your revenue does not halt completely as the other is still producing cash.
As for BM, Obviously this cannot (and should not) be prioritised at this point as this is likely to be preparing towards production/early production (I'm sure they will be working on the plans for the equipment, set up etc in the background so they can pull the trigger quickly on set up once the license is granted) at the end of this year with full production achieved early 2027.
Once Maddens comes online and we see the revenue figures .....Paleogold share tranche triggers at $5m ECR revenue in the first 12 months so I assume we will be in that neighbourhood (above or below?) at which point it opens up many options to ECR for acceleration/expansion at any of the licenses, payoff the CLN, etc.