Very promising announcement, highlights for me are;
1.2Moz total resource (~27Mt @1.5g/t)
Rustlers Roost to get more attention from new management
Resin-in-Leach (RIL) processing, metallurgical change to unlock latent value
Technical feasibility of RIL already done, hampered by low gold price in 90’s… obviously not an issue at present
Old Pit Shell modelled at A$1,600/oz… obviously this will be easily expanded to larger/longer operation (A$1,750-1,800 at least)
1km+ strike length, this seems pretty big (need to find more comparisons)
Undervalued resource with potential metallurgical pivot has parallels to Patrick’s last gig at Carbine, confidence to do it again. The main comparative upside to that play is the potential for exploration success and a much larger production profile in terms of oz/yr.
Market response is giving it a tick last week/today
