Hi Spec , I only have taken a small position , the reason being...

Hi Spec , I only have taken a small position , the reason being I tend to find I am more interested in finding out about a company after making a small commitment monetarily , if what I find out after a bit more research is good then I may dip my toes in a bit further otherwise will sell.



Reason for me buying is I seem to have a reasonably good track record buying beaten down Ozi gold developers over the last 14 years , hence I tend to be overly exposed to that sector , the trick is to find somewhere close to the bottom, hopefully the intrinsic issues have been dealt with and it will now rise in price , of course the POG and POI is out of our hands although they have hedged for diesel.
Here obviously the NPV is far higher than the share price and it is a two mine scenario if this one works out so potentially a close to doubling of that NPV

This seems to be similar to what happened to Millenium (MOY) or Norton (NGF) with a lack of feed to the plant initially rather than some systemic problem .
Often it seems the lack of initial feed is both from
1) too small a machinery/wrong machinery used , (using ADTs instead of 100 tonne plus dump trucks and corresponding larger shovels (with experienced operators and geos capable of delineating ore ) , why use 40 tonne ADTs when there is no ramp access issue and no wet weather issues , as they just create a bottle neck for the plant feed supply

2)an incompetence issue with scheduling how overburden is removed and how ore is accessed initially which is a different ball game from when the mine is down to ore and it is a steady routine of working on each bench and progressing down with relatively steady strip ratios until the ratio lowers at the bottom of the pit although with an obvious transition from oxide to fresh (sulphide ) ore which can affect metallurgy and blasting
On other mines the conflict between scheduling overburden removal (distance to cart) and getting enough ore to fill the mill is often rectified by employing a more experienced OM , although BDR seems to have gone through many changes without success , I do not know if that is the issue here however it seems they are ramping up to name plate finally so hopefully it was just a speed bump.

Thanks for the mention of forecast of 1ok oz yet the report mentions 16k that is a big difference I was not aware of, yes be interesting to know if there has been a sudden increase in tonnage in the last couple of weeks

I am not an engineer so welcome a scathing reply from someone who is .