You might be right about the specatacular purchase that WGX gave away but that’s called blue sky mining in my book that will only be proven in the wash. So far they’ve used it to rehyphothicate there share price many times over.
My point is that the Kalgoorlie terrain is some of the most mature, picked-over gold terrain in the world that’s been studied and explored by large and small miners alike over the last 120years. I haven’t counted but there are probably many more gold tenements on the Kalgoorlie 1:100,000 scale sheet than there are in total in a countries like Ghana or Cote D’Ivorie. What’s more the potential to find million ozs deposits in West Africa is much higher in my opinion than the potential of finding the next million oz deposit around Kalgoorlie. What’s more you can probably still find a million ozs in West Africa doing soil sampling with simple traditional agricultural digging tools. We have moved to a point where deep RC grid drilling is required to find even the sniff of a new resource around Kalgoorlie and that doesn’t come so cheaply. What was the last major new find that you can remember that wasn’t brownfield around Kalgoorlie proper?Esh
EAR Price at posting:
25.5¢ Sentiment: Hold Disclosure: Held
