Herebus, no offence was meant, but your figures are incorrect. re: 540K derived and 223K inferred, as prepared by Coffey Mining." -------------------
If you read the coffee report (you are referring to) I think you will find the 540k and 223k relates to tonnes, NOT ounces of gold! Within the report you will see that the 2005 inferred mineral resource was 55200 ounces from 223300 tonnes.
Most of the report is conceptual in nature which they point out, and there will have to be a huge amount of drilling to prove up these figures (taking that the gold is there).
I have no qualms about it all as I have visited the site awhile back now and talked to the operators at the time. At one stage lately SML were looking at sinking a decline shaft between Glenwills and Sunnyside (1 kl + ?). The cost of this was substantial (in the millions) if I recall. It is somewhere in the past SML posts by Tastarga where I asked the question. I am unsure whether this is still on the cards or they are just going to keep on drilling (and a lot of it).
I know that the gold at Glenwills/Sunnyside area is very rich and is normally found in narrow veins, hence will always create some interest for some in the market with drill announcements etc.
Anyway good luck with your investment.
SML Price at posting:
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