I am surprised that there was no comment on the rehab work done. This can be a huge expense hanging over a companies head. There has been a lot done at Groundrush. A lot more than the purchase price. Effectively TAM has got the plant, gold in the ground and the ground for very little considering this. I think that when the report comes out as to the cost of cranking the plant up and producing, a lot of people will be surprised. Relatively low startup cost, enough gold to stay cashflow positive and explore.
At Callie, down the road, the further they have gone the more they have found. Even after drilling the same ground for 10 yrs they are making discoveries right under their noses. 300m down not 1300m down where the mine has got to.
The lack of drilling, especially at depth around groundrush means that bacically it is virgin ground.
Can any of the metallurgists out there comment on the issues associated with mining and more specifically, milling, I presume, sulphide ore from below the existing pits.
Ntphil
TAM Price at posting:
4.5¢ Sentiment: Buy Disclosure: Not Held
