Mal, Agreed. That would depend on the strike length, depth,...

Mal,
Agreed. That would depend on the strike length, depth, structural controls of the mineralisation and other key indicators that the management are probably going through. I would have had hoped that investors had taken the time to listen to the most recent presentation by James Searle in which he carefully laid out the plan for the next 2 years for MKO.

Anthill and Goongarrie are near term, development projects that will provide a quick cashflow into their treasury. The firm is just delineating historic resources on Anthill and trying to understand the high grade, vein system in the Goongarrie. These are not multi-million ounce deposits at all but will provide a quick return with short payback periods. They will just be extracting the ore and processing it at the various mills around their projects.

Their secondary focus is on drilling Bullabulling. They have discovered a gold anomaly in that area and keen to move that forward.

And to the other poster, grades are actually just one factor of perceiving if an economic deposit exists. There are many placer type deposits that offer low grades but make it a profitable bulk mining operation. In fact, the second largest known gold resource in the world is an extremely low grade system but taught the world that low grade systems are economical. It contains an estimated 80 -180 million ounces of gold. The most recently discovered Cortez trend is also another low grade system...i should know, i have a company invested in that - US GOLD.

Obviously most juniors would prefer a high grade system to a low grade mineralisation. However, if it is a polymetallic system, like ROL's, then costs will be much higher for extraction as there needs to be leaching and other mediums to seperate the metals. Topography is also another huge factor if an underground mine is to be developed for a vein system. High grades was prized upon at $300 gold prices but with gold above $1000/ounce, many other medium and low grade systems have become economical.

From what i can see from their cross mineralisation of the orebody, they have a good understanding of what they are dealing with on the Anthill project. The fact that they have intersected gold on ALL their DRILL BITS, should already display their understanding of the controls of the system.

Indeed, one should not fall head over heels with a firm's prospects, but i personally feel that MKO ticks all the bozes on my due diligence sheet. Till they prove otherwise, i see upside as it falls within my risk/reward propositions.