Is there potential there?
We find out “early next quarter” after more consultants examine the pit ( and continue the extensive analysis already completed by Cube and Asmore as reported in the update above )
....Or is the slightly-downgraded Gilbey’s which I think was expected to be 85% of LOM, now basically ‘it’.
“Gilbeys has started to become the most significant ore source, only 172kt of ore has been mined to date or 1.5% of reserve.” The update notes.
On Golden Wings : as @speculator101 noted above - an “absolute fail “.
“Alternate intepretation and modelling techniques are being explored for the Golden Wings deposit to improve production forecasting and gold grade recovery from this pit for the first half of next year. Consultants have been engaged to perform this work with the results expected early in the next quarter.”
Looking back at the history Golden Wings does indeed seem to be at least one of the reasons Mike Dunbar retired, and if his efforts there are representative of other results which followed in a quick spate causing the price to fly and facilitating a capital raising at 33c a share I have significnt concerns over the other Dalgaranga prospects - Hendricks, Vickers,Beefeater and Gilbey’s North as well as what he found at Glenburgh.
Feb 8, 2016 : Significant new gold zones intersected at the Beefeater, Vickers and Gilbeys North prospects. here
Feb 22, 2016
HIGH GRADES IN RESAMPLING CONFIRMS HENDRICKS GOLD DISCOVERY AT DALGARANGA
• 1m resampling results received from the discovery hole at the Hendricks prospect confirm the original 4m composite samples, including individual 1m sample assays up to 21.1 g/t golld. here.
Feb 24, 2016
40% INCREASE IN GOLDEN WINGS MINERAL RESOURCE AT DALGARANGA
• Golden Wings Mineral Resource increased by 40% through inclusion of recent drilling. here
March 2, 2016
LOW CAPEX WA GOLD DEVELOPMENT CONFIRMED FOR DALGARANGA
• A 2.5Mtpa Process Plant has been designed and costed to an accuracy of +/- 25% as part of the Dalgaranga Gold Project PFS that is nearing completion. here
March 31, 2016
DALGARANGA PRE-FEASIBILITY CONFIRMS EXCEPTIONAL PROJECT ECONOMICS FEASIBILITY STUDY HAS COMMENCED
.... “PFS substaintially improves upon the previous assessments of the project and is based on historical production records as well as studies completed by a number of independent consultants to the Company, including RungePincockMinarco (resource), CSA Global (mining and reserve) and Mintrex (process engineering, operating and capital costs) here
AprIl 1, 2016
FOLLOW-UP DRILLING RESULTS INDICATE WIDE GOLD ZONES AT HENDRICKS GOLD DISCOVERY here.
April 11 2016
$15 million credit raise at 33c a share here
I’m currently taking the view Gilbey’s will suffice - even if there is nothing more
I’d appreciate other people’s thoughts.
Cheers
