DrWho2 just curious as to what has influenced your viewpoints on...

DrWho2 just curious as to what has influenced your viewpoints on the viability of the Bundarra deposits - is it from your own reviewing of the information about the deposits, or as a result of discussions with geo's or other industry types with knowledge of the area?


If we just go based on TMX's ASX announcements, they indicate that they have done preliminary pit designs on Wonder North that indicate a recovery of 55koz (from a total resource of 172koz) based on AUD $1200 gold price returning a cash surplus of $10 million.

They've also identified 16koz recoverable in pit designs at Celtic (out of total 58koz resource).

They've also indicated they are doing updated mining studies for Great Western. The information supplied in notes accompanying the AGM announcement shows details of an earlier mining study at Great Western at much lower gold prices.

They also have very good ongoing exploration potential with the new bluebush discovery still not drilled out and quite a few other prospects including the quite large Craig anomoly that has not yet been drilled.

My reading of Bundarra is that it looks like a potentially very prospective area and they were mid-swing on drilling and expanding the resources there when the GFC hit (they increased the JORC resource there by 60% with their own drilling)

The deeper underground results at Great Western for example look very interesting - and they also had some very wide intersects (lower grade) at Wonder North just before the GFC and around the time the whole ANZ Opes Prime related sell down hit.