"no lending to any mining activities during slowdown"? Hardly relevant. IMO these guys are (initially) building a tiny ~20-50Ktpa operation treating ~3-5oz dirt. That's only 50-130tpd for AUD $0.3-1.2M per day (minus tiny costs).
They've already got a 7Moz @ 40g/t from just 4 of the shallow holes they've drilled with nothing back from Ema yet.
IF the pilot plant doesn't cover startup costs, do you really think they'll have trouble raising a tiny amount of funds for a tiny plant when they've got a massive 20-50Moz resource?
Ann: Exploration Update, page-30
-
- There are more pages in this discussion • 84 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
