Ann: Kavanagh Drilling Update , page-7

Captain - I think you will admit it is an obvious observation that it is expensive to get this stuff out. Much of the gram metres in table 1 is at over 400m drilling depth. At least some of the new stuff is 175 to 280m d depth.

I'm watching this one and think I might buy in at some stage, but would like a significant margin of safety, and fortunately am in a position to cherrypick. I do think they can make a go of Kav, but mainly because significant infrastructure is already there, and skilled and experienced staff are already working there. Without that - I have a feeling you probably would not bother.