A serious question about the Boda discovery is ‘if it turns out that it contains a huge resource will ALK be able to development on its own’. The cost of drilling deep holes is very costly (I think I read somewhere that a single diamond hole of 1,000m costs of the order of $1m) and they will need to drill lots of them and to develop a mine anything like Cadia will cost well over $1b probably over $2b (but maybe they can do it in stages).
Newcrest developed Cadia on its own. But it was already a sizeable gold producer when it discovered Cadia - I researched the history of Newcrest. Before it discovered Cadia it was already a sizeable gold produced from its Telfer mine and seemed to be producing about 350,00ozs annually in the 1980s and early 1990s.
Currently ALK could only develop a big Boda with a huge issue of shares and not ideal. The best scenario will be for them to develop their other gold assets to build up enough capital to be able to develop Boda in 5 years on their own.
what do other followers think?
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