so did a quick check of Glenburghs Preliminary Feasibility Study released back in 2013 - Glenburgh PFS
Basically, they were always going to go U/G, but not until later in the project.
Glenburgh has seen results that prove U/G is viable, at least around the 5g/t cuttoff that seems to be the benchmark these days.
This slide from 2012 sums it up nicely really. Very little drilling done on the project since 2013 in fact. Almost nothing deep... except for Zone 126.
Still open too.
As for Dalgaranga, pretty much to date, the main pit is low grade (non-U/G). However, in their drilling and discovery of Sly fox etc, the grades are higher, but... no deep drills so, unknown for now. But then, they need to get the mine commercial first. As they still have 6+ years to mine without finding any more ounces!
@albatrosss - regarding that presentation, and earlier ones, the thought process as I understand it, is that they have many years reserves, but also 2 greenstone belts that are basically unexplored, so... while they are doing some drilling around the plant, the longer term goal is to replicated Dalgaranga and Glenburgh.
Although at this moment, its probably far from their minds.
POG in AUD is holding up very well right now, add in the hedge and whatever they are selling is getting good prices. Just have to hope that they are finally hitting their stride. Must admit, its a bit depressing that the SP is now back where it was 7 years ago.
I think they should extend the SPP again, but... with sentiment the way it is, perhaps its a waste of time, unless they really have met targets now and can prove they are commercial etc.
GCY Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
