The other important thing about building that drill drive is you now have the ability to drill radially (in all directions) from positions along the axis of the drive with the drive optimally positioned with respect to the known positions of the existing ore bodies.
Compare that with drilling expensive diamond holes at depth from the surface where you only really get one chance to intersect the target. One miscalculation and your expensive hole in the ground remains just that.
This announcement is far more significant for these mines than the market has just factored in. Kundana will be in production for at least another decade now in my opinion and like always its high grade assures it won't go out of business no matter what the gold price does.
Fabulous long term buy and hold in my opinion.
Eshmun
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Mkt cap ! $230.8M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 14 | $4.49 |
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Price($) | Vol. | No. |
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View Market Depth
No. | Vol. | Price($) |
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1 | 2079 | 4.800 |
2 | 2250 | 4.600 |
1 | 538 | 4.500 |
1 | 550 | 4.310 |
Price($) | Vol. | No. |
---|---|---|
4.960 | 1 | 1 |
4.970 | 2 | 1 |
5.120 | 1000 | 1 |
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