It is my understanding that at ipoed , their plan was always to get a small mine going with the infrastructure they inherited, use the cash flow to expand the gold operations and/or aggressive explorations at Burns all driven through cash flow. We are at the cusp of this long and sometimes frustrated wait to see off that initial aspirations.
To me Burns is the "blue sky" that will really define the company in the long term, no idea how long this is, could be years away. Just like NST DRM, the current limited mine life will require a lot of luck and skills in 'finding' additional resourcea and recent success is demonstrating there is likely somehing big down there. Burns is the wild card, if they do hit something big with this diamond drill then that is the icing or real potential. If not, they have the options further down the track to have another go at aggressive exploration in IOCG gold mining area. Anyone buying in banking on the fact that we are gonna have a SIR style revaluation through Burns probably need to review expectations. This is still a gold mining company busily going about the business with the least amount of fuss.
ORS Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
