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Bazsa

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30/05/18

18:18

Post #: 33383920
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Originally posted by cortez ↑

Thanks for the table bazsa, looks the goods.

Apologies if this has already been posted but I couldn't see it. Relates specifically to Kochang.

Most of this we know. However this bit caught my attention, and is the first time I've seen Simon give some specifics on potential size for this one:

"We expect this ultimately to be a multimillion ounce producer at the end of the day," he said.

I think Mining News might be behind a pay wall - http://www.miningnews.net/events-coverage/news/1338440/southern-unlocking-time-capsule

This week, London-listed Bluebird, which is earning 50% from Southern, identified a potential early source of feedstock at the historical Kochang mine.
Grab sampling from previously blasted rock graded 1.69-5.12 grams per tonne gold.
Kochang closed in 1975 and Bluebird said much of the ore left behind would now be economic, flagging a potential operating profit of US$750 an ounce.
Bluebird is currently spending $1 million to advance Gubong and Kochang and is due to deliver a development framework to Southern next month with the aim of advancing the projects for capital costs of less than $10 million.
Speaking at ResourceStocks Sydney yesterday, Southern managing director Simon Mitchell said Manila-based Bluebird was the ideal partner.

"These are old hands in the industry," he said.
"They're hardworking, smell of an oily rag gold miners so this is their bread and butter."
There's 120km of underground development in place across the two mines, but only 24 holes ever drilled.
Mitchell said there could be half a million ounces at the bottom of the mine.
"We expect this ultimately to be a multimillion ounce producer at the end of the day," he said.
On South Korea, Mitchell said it had been "closed" for the past 40 years.
"It's a bit like an exploration time capsule and we're reopening it."

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Always worth a re visit !

May I suggest that any one that is feeling nervous or is concerned at any particular issue to contact SAU before doing anything thing radical. I wouldn't think to many MD's would respond directly to share holders concerns however Simon dose.
Had trouble using the email enquiry box however I simply emailed using the address provided on website and received a detailed response the next day.
Cheers to all, and stay tuned

SAU Price at posting: 26.5¢ Sentiment: Buy Disclosure: Held
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Always worth a re visit ! May I suggest that any one that is...

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