plough

Plough,

considering the board comprises two brokers and an accountant they appear to be tackling the project in a professional manner!

Despite my concerns about Western Australians invariably coming to grief on small, high grade reef structures in Vic (and Tassie?), the report announced to the ASX on 2/12 is quite thorough and a good read.

It demonstrates the significant metallurgical problems that will be encountered , the narrow widths, and the multitude of seperate reefs.

The Mathinna area was never considered to host large tonnages, and the report does not really alter that fact.

It is a series of rich little shoots which are a b*gger to mine, require considerable capex for development as you will not be developing just one orebody (unlike Beaconsfield nearby), will probably need a similar Biox process to Beaconsfield (which is invariably trickie-ask Beaconsfield and Perseverance!), and experience some water problems.

It could hit a jewellery shop, or the next few feet could be the end of the mineralisation.

To justify the target resource that report suggests will require very substantial confirmatory drilling. Whilst the directors allude to the data base compilition being similar to BGF and BDG-thats where the similarity ends. Lots and lots of deep drilling needed in difficult conditions-see the Allstate drilling programme as described in the report.

So endeth the commentary!LOL

Cheers,TAS