I'm guessing that CGT will do open stoping of the quartz pods...

I'm guessing that CGT will do open stoping of the quartz pods with about 20% dilution so getting into the Ballarat Goldfields archives at the time of the Lihir takeover I got this impression of the resources:

Ballarat's high grade pods are complex shapes with volumes ranging from about 4,000 cubic metres to 40,000 cubic metres and weighing 11,000 tonnes to 110,000 tonnes with grades usually averaging about 15.6 g/t (RSG Global's estimate), this implies a gold content for each pod ranging from 5,000 ounces to 50,000 ounces

incidentally, my digging through the archives found that the stage one processing plant cost about $30 million (gravity processing) and that the leaching reactor add on was priced about $10 million and the tailings dam seems to have cost nearly $5 million

the metallurgy of Ballarat gold is quite good, typical of MCO's metallurgy where there is more than 80% recovery with a grind size about 1mm and minimal sulphides

makes me wonder why that leach reactor was acquired at Ballarat, just trying to get the tailings down to about 0.6 g/t I guess

another possibility regarding new shares to be issued

230 million shares currently

the first capital raising of $20 million at 4c implies 500 million new shares, and that implies a 2 for 1 rights issue to existing shareholders

does that look right?

more bits of info - at the time of the Lihir takeover there were 1.1 billion shares of Ballarat Goldfields selling at market about 21 cents though the takeover appeared to be at about 28 cents