Yes these current figures are based only on gravity feed, it is a very basic form of processing and as a result, very very cheap to operate/setup and still a saleable product.
There is obviously other methods which could be employed to process the ore to get it to a higher grade with lower impuritys, and that is what I think they are talking about when they say they will do further studies.
The bottom line is that the ore is able to be processed to a very good grade already - I am not sure how much more positive that statement can be.
As for the 7 months to get it to this state - I think that is a little harsh given that the whole management structure has changed and turned on it's head.
I have said it before and I will say it again, I don't care who is running the company as long as they are delivering results & this is definitely a result worthy of celebrating. The alternative situation would have nothing and we would have probably slid further south back below 14c. I mean even though its thin volume (because there is nothing available to buy in the spread), the market has clearly responded positively to this announcement in that we're back to 22c.
I agree that it needs the right team going forward to get it to production, but at the same time, you have to be happy with confirmation of a viable product.
Given you were on BRM from 50c you will know how long these things take! Nothing happens overnight, but those who are willing to take the risk at an early stage will definitely be rewarded.
DMA Price at posting:
22.0¢ Sentiment: None Disclosure: Held
