Gravity mining of the alluvial gravels to commence 1st quarter 2012 is very good news.
It is interesting to compare with Pacific Niugini (PNR) who are trying to do the same at Bulolo where they are having some major difficulties in getting going. Over 30 years 2.15 million ounces of gold were recovered from the gravels at Bulolo at a reported grade of 0.31 g/m3. Area 81 on the Derewo River, part of WWI's mining tenement reportedly has grades of 7-20 g/m3 (from the CSA Global report on the Derewo Project). Derewo was also only discovered in 2004, so the potential here is massive imo.
The sp looks pretty ordinary at the moment, but I wonder how long that will last. This has to be one of the more exciting companies going around with massive blue sky.
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