Thanks Davo, formaggio and gouldie....all points taken on board....

Thanks Davo, formaggio and gouldie....all points taken on board.

Hi Zia,

Be cautious if you intend playing the volatility of this one IMO. It has a habit of dumping when you least expect it, due to the no of shares on issue I believe. Paradoxicaly though, TAM isn't heavily traded most of the time and therefore not really for traders. IMO it's one to get in on the ground floor and hold. That's just IMHO though! You're decision at the end of the day...

Just a bit more info guys. Even though it's dated, some of the paper's data MIGHT have had something to do with the decision to acquire Groundrush. That's IMHO though so make sure you DYOR.

With the depth, the paper is saying that's where the deposit was FORMED, not necessarily meaning that gold is present from surface level to that depth. That's just my take on it though and I'm NOT a geologist.

Hope you're right about the re-furb costs being lower. That will help the bottom line, of course, and IMO GR will be a profitable operation in the future.

Extracts from: Gold mineral systems
in the Tanami region
AGSO Research Newsletter
May 2001, no. 34

"Moreover, fluid inclusion data suggest that
the four main deposits all formed at different depths with Groundrush being
the deepest."

"Groundrush appears to have formed at the greatest
depths and has the most reduced (CH4-rich) fluid"

"Despite the evident differences these deposits have similarities, particularly
Callie, Groundrush and The Granites"

"The Groundrush prospect (resource 0.7 Moz Au)
is characterised by dolerite-hosted quartz vein
mineralisation adjacent to a chilled margin of the
Groundrush (Talbot South) granite dated at 18125
Ma. The majority of the ore is free gold, but some
auriferous arsenopyrite is also present. The orebody
is open at depth. Mineralisation and deformation
relationships remain to be determined"

"Groundrush deepest 5.5 - 8.3km."


All the best everyone,
chick