I can understand why these guys haven't started mining, you would have been crazy to try and start a gold mine in the Pilbara up until recently. There was no one to do the work.
Now its completely different with a lot of nickel mines shut down and ex underground nickel miners looking for a job. Plus heaps of engineers laid off as well, many with underground experience.
In addition the AUS gold price has risen from 900ish to 1200ish since they announced the JORC. So producing 30,000 ounceswill deliver an extra $300 an ounce or $9million a year cash flow
Thats a no brainer and little doubt a deal to reopen will be done pretty soon. Its really just a matter of how much they have to give up to get mining.
NWR Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
