Originally posted by Sarg
Hi Happytrader
I’m sure your comment reiterates what I’ve said on so many occasions about Peel only scratching the surface of what lies within and about the circular mineralised formations.
My gut feeling is and has been for quite a while that it will become a massive long term producing location.
The super fact is it’s all ours, and it was bought a) cleverly call it intuitively by Peel b) for next to nothing, and nothing I’ve read in quarterlies from lots of companies comes anywhere close to the grade and potential we are so fortunate to have.
What’s to come is what keeps me glued to drill results and I’m sure most geologists would be envious of the discoveries and opportunities on our doorstep.
Theres now smoke, fire to come, and logically I can’t see any reason why ANZ is at the table with Korea Zinc ergo Sun Metals unless there’s a deal brewing a significant one to be in on day one, as a financial supporter where all make a great return on investment.
When the penny drops and even more drilling expands the tonnages around Wagga Tank Southern Nights and around the full perimeter I suggest we will all need wheelbarrows not wallets!.
All IMHO naturally..
Sarg
Heard this all before. Too many promises and estimates but it's the final numbers that count and Cobar is no easy place to mine and make money. Compare the area to Mt Isa-McArthur River or Cannington or even the tailings Zn resource at Century and it puts our little deposits in perspective. Mining is a license to burn money just as much as it is to make money. With the huge Zn resources out through the Mt Isa region, the volume we produce from Wagga Tank will be small change for Sun Metals and our concentrates will need to make a bit of a round trip. CBH is the natural customer for our production and precious metal credits are the key to success. Deposits through that Cobar region tend have plenty of depth extent, but on the eastern and western margins of the basin structurally-controlled sulfide lenses are not as persistent and can occur as an irregular series of ore bodies. Talk of volcanoes is irrelevant to this globally recognised mineral style. So far our Wagga Tank and Southern Nights drilling has not proven we have the depth below 400 or 500m and therefore constraining resource size. Hopefully this will change with more deeper holes, but for now be realistic with the assumptions and the talk of loads of cash
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