That's a classic Dugsab. How can that be interpreted? An 800m banger, 4 times deeper than any of previous ones, must have cost a bundle (of borrowed money). Could also have said "drill and bust"??
Is this cowboy drilling like we had in W.A. in the 1970s, or, surely they MUST have some extremely serious (and highly prospective) information??
All of this while they frig around with what "looks" most likely to be their VERY simple cash cow"Mine planning is very simple given the ore is near surface and can be easily open cut with a maximum pit depth of 30m." Front end loaders and a couple of B Doubles.
OK they find something in that hole, think cost of extraction? I reckon that they ARE taking a (desperate) throw at the wicket on the last ball and hoping to hell that they find something so they can then attract someone else to either buy it or mine it, after jerking up the SP to enable a better placement price?
Dugsab. Have you taken up your findings on "the operator" with management??
Their QR only states that they are looking for possible alternatives for the "toll treatment". What about the mining and transport that is all encompassed in the EOPL agreement?
LNY Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
