Hot dam, this could be another spike like that European lithium.
I am already in for 1.6+ million shares so good news is always good for me..................
Most newly discovered gold mines are over old prospector's workings but they are predominantly in remote areas, and or in countries with high Sovereign Risks, substantially increasing the costs and risks.
Whereas Payne's Find :
- Has some 37 old miners workings.
- Is located in one of the most safe and supportive mining states in the World.
- Is only 4.5 hours North of Perth on a major highway
- Has extensive previous geological work, gold mineralisation, and data to provide an accelerated start to our exploration program.
- Gold has already been discovered by old prospectors and by previous drilling programs.
- There are no Native Title claims, royalty or access issues resulting in fast approval processing of exploration programs and no Native Title royalties.
- An existing Mill is available depending on final exploration results, which could substantially reduce Capital Costs.
- Potential early cash flow exists from the Pansy Pit and the Albury Heath deposit in Meekatharra because of availability of Mills.
- Set up costs are minimal as the project area is located alongside a Roadhouse providing accommodation, meals, fuel and other facilities.
- Will not have to provide Fly in and or Fly out expenses.
- An additional benefit is that that the roadhouse owner is extremely familiar with the area and worked underground in some of the old workings as did his grandfather.
- An air strip is nearby for safety and other purposes and a Volunteers Fire Brigade and First Aid post is nearby.