ERM 3.33% 6.2¢ emmerson resources limited

I can't answer the question with any authority as to why the...

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  1. 545 Posts.
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    I can't answer the question with any authority as to why the Edna Beryl exploration shaft has been delayed, but my sense is that priorities have changed as a result of a change in circumstances.

    There could be two reasons for the change:

    a) The Warego mill is to be sold to TTY, who will build a new 300,000 tpa gold processing facility on the same site. This new facility will be ultra modern and much more efficient than the old mill. I gather the gold processed by the old mill was inefficient and produced a poor return from the quality of ore fed through it.
    I don't think the management will do much to speed up the small mines strategy, including Edna Beryl for gold processing until the new facility is up and running.

    b) They have also very encouraged by exploration results at Whatling Hill in NSW, which they may feel requires more urgent attention than Edna Beryl.

    At the end of the day we are in management'hands and hope they might make the correct decisions in all our interests.
 
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