Empire Oil & Gas, a junior gas producer from WA, has discovered a rich vein of gold whilst drilling for gas near its Red Gully Gas plant.
MD of EGO said:
" we are very disappointed that the gold has clogged the gas separator at the RG Plant, because now it will mean another unplanned shutdown".
Upon investigation it was found that the drill string hit a very hard rock, diverted, and broke through the vault of the Perth Mint".
It is understood that the drilling contractor is demanding return of their drill-bit"
More news as it becomes available.
EGO Price at posting:
0.6¢ Sentiment: None Disclosure: Held