And let's not forget the 500,000 to 1 million tonnes of exploration upside. Their Jory only represents 20% of the known strike. Just re reading the announcement again, we are reminded that 50k of the 300k resource is oxide. This means it should be easily heap leachable assuming the metallurgy stacks up. I seem to remember them saying something about 90%+ recovery! but can't remember when....it was so long ago!! Anyway, assuming it is easily treatable this way, $20 mill capex could generate $350mill+ in revenue and I don't think the mining and treatment costs would be even half of that. ie a good way to generate capital for larger full scale capex, without dilute the bejesus out of shareholders.....the numbers are starting to look goooood!!
ZRL Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held