I live in Bendigo
Their Fosterville mine is 25km east north east of Bendigo
Employ > 500 staff here.
I know someone wo works there.
It is the richest goldmine in the world..
Grades of > 200G per ton.
And potentially known higher grades to be mined.
Made close to $100 mill profit in the month of December alone.
They have a very low profile here.
And I dont have any shares !!!!!!!!!!!
Bendigo was founded on the discovery of gold in the 1850s
It became back then the richest gold field in the world.
A number of parallel reefs and 100s of poppet heads/shafts.
The town, which is now a city, was build right beside and on top of all of this.
There are still tunnel deep underground everywhere. Literally 100s of kilometres.
Almost a certainty there would be tunnels deep underground below where im sitting at home typing this.
And every now and then, usually after heavy rain, an unknown shaft will collapse and become exposed which required re capping.
The Fosterville mine is completely separate and not connected to
all the mining that took place here way back then.
And a bit of history.
Well before Kirkland bought the mine, the racing car drive Nicki Lauda was a major shareholder.
I went out there around 30 years ago for a look with some Melbourne brokers and did a tour.
Was a heap leach operation then....... low grade ore......very marginal.
Good luck to all shareholders.
KLA Price at posting:
$48.56 Sentiment: None Disclosure: Not Held
