It appears very likely that there's sufficient high grade ore already defined to complete a JORC resource statement and a mine plan, and discussions are in place to finalise 'partners' for the mining process.
Where this will be processed is dependent on which of the 3-4 mills within trucking distance needs it most.
Remember, high grade ore is allows a mill with too much low grade ore to blend it with high grade to run through the mill, as per the mill design average ore grade. Hence the mill is profitable as well as the low grade ore ....
High grade ore is very economical to truck (per oz of contained gold) and hence distance from the mill is much less of concern than one might think.
WGX's SKO plant needs high grade ore, but then again so does the Randals plant (another SLR mistake selling its SAU interest), Lakewood and Super Pit.
WGX and SAU have worked harmoniously to develop the Cannon pit, and WGX has the logistics and in house mine development expertise to make a go of a new prospect, but will they ? Perhaps SAU should buy the SKO ?
SAU's latest presentation is worth a look, and there it points out that its debt free, cashed up , and has a very tight share structure, with no institutional presence nor share over hang.
SAU has not needed to do any capital raising like the unfortunate MGV whose SP is still suffering from Patterson's Disease. Instead, its self funded its development & exploration & issued its maiden dividend of 3c which is 10% of the current share price ..... the company is confident that its ability to generate cash will continue, to fund its exploration and dividends. This doesn't look like the usual miner hyperbole .....
Just one further high grade report to the market should see SAU's SP finally get some long overdue respect.
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It appears very likely that there's sufficient high grade ore...
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