Forgot to post this guff here....
Another micro cap GOLD play... on Aussie soil.....
Part of the trouble with finding gold... is of course then building the stuff to process it. This one has both (sort of....).... at very least ... that is what the keep telling us... but market no believing it just yet.
PGO / PGOOA
http://www.primarygold.com.au/index.htm
MC $2.4 million
Cash $1.2 million
Situated 100km from Darwin.... perhaps could be used to process ore from surrounding areas.
The mine used to profit for approx 20 years.... even when gold price was in the doldrums.... so PGO own the rights to the old processing plant too..... and the pits.... steak knives.... etc etc
Figures quoted for full refurb of existing processing plant are approx $5-6 million.... most recent upgrade in 2010 cost about $1 million.... so punters are getting something for their money.
Hey... at least it ain't just dirt ya buyin.....
Dr Qi Yumin (from Hanking Mining) is on board.... so might just be the type of dude with the right stuff to get the mine moving again as hoped for in 2015.
Hanking have proved themselves pro-active in recent years.... Hanking bought Southern Cross from Santa Babara back in 2011 for $23 million and have engaged Watpac (WTP) with at least $29 million contract to keep things going there.
PGO recently chased CBA for finance (still no word though)... and say they are in talks with others at present. Perhaps something like PNR's announcement from Friday night ... cash for future gold production?
Tom's Gully asset was previously changed hands back in GBS and Crocodile days..... seems that no one has had the setup yet to get the mine moving.
Pattos/PGO picked it up for a song... though progress has mostly been focused on JORC and drilling so far.
Heads bottomed out on tiny volumes at 1.0 cents recently.... small nibbles have appeared since most recent market update.
Might get a bit of a run on pending funding / sampling results...
Might actually do something with this nice move in GOLD....?
bsh
