Commonwealth south looks to have potential for an open pit scenario.= with possible toll treatment if someone like BHP could come on board. Northern section though may be a bit like goldy locks too hot (deep) before decent grades are encountered so too high a strip ratio for open cut and too low grade to mine economicy with long hole stoping for what looks to be a sub 7 gram a tonne narrow vein mine. With companies like NST and SLR only making about a 15% profit margin from around 9 grams a ton, 7 grams does not give me a lot of confidance. Just my ignorant opinion and not a geo. MD seems switched on with a good head for figures so imagine he will rationalise to go for an open pit rather than burn cash waiting for financing a decline.
IVG Price at posting:
5.3¢ Sentiment: None Disclosure: Not Held
