Will NMG build their own Mill? - Alex Passmore, MD New Murchison Gold (ASX: NMG)

Описание: Alex Passmore, Managing Director of New Murchison Gold (ASX: NMG), returns for a candid catch-up on the Murchison gold story — a capital-light producer generating serious cash under its Bluebird ore-purchase agreement, yet trading lower even as the resource base jumps 47%. We dig into growth, the market disconnect, and the road to a standalone plant.

Six weeks on from our last chat, gold's wobbled and the share price has slipped from ~4.7c to ~4c — but NMG has added a 47% bigger resource, kicked off a new pit, and pushed Cloudkicker into production. Alex breaks down what it'll take for the market to finally pay for the growth.

Key topics discussed

The 25 June MRE lifting Garden Gully 47% to 359koz remaining (409koz with depletion), 71% Measured & Indicated — and how far that gets NMG toward a resource base to justify its own plant.

Crown Prince Underground at 150koz @ 3.2g/t, now the single biggest chunk of ounces, and whether it firms up a ~3,000–4,000oz/month underground.

Maiden resources for Lydia (55koz) and the newly emerged Abbotts (44koz).

Crown Prince open pit: the Stage 1 / Stage 2 cutback crossover at ~55m, three dig fleets, and the September-quarter reserve and resource update.

Cloudkicker (formerly Crown Prince East): mining commenced, first caprock ore crushed in September, and eye-catching grade control — 10m @ 13.61g/t (incl. 3m @ 32.17), 1m @ 54.80g/t — coming in above model.

Underground feasibility (Q3), a potential vent portal off Stage 2, and a possible Crown Prince Main–Cloudkicker connection.

Greenfields upside at Abernethy South and Airstrip, the ~$10m/yr exploration budget vs ~$20m/month cash generation, and the path to a 120,000oz/yr producer with a standalone mill.

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