bring on the jv, bring on production, page-99

Exerpt from High Grade July 2008:
"Emmerson, which, given the current market circumstances showed great timing with a $A20
million IPO late last year, has the advantage of already having an established mill ready to go
and, according to managing director Rob Bills, the company’s biggest value driver will be on
finding openpittable high-grade gold in oxide to get the mill up and running. However, as has
been proven many times over the years, desperately seeking feed for a hungry mill when
under pressure is not a viable template for a sustainable business – just ask Giants Reef for
starters! Hence the current thinking is that a minimum of 200,000 ounces would be needed
before any consideration is given to kicking the Warrego mill back into life. And those ounces
don’t necessarily have to be all Emmerson’s, says Bills, which, depending on the toll treating
rates sought, spells positive news for the other contenders."

http://209.85.173.132/search?q=cache:KmnD1qcY9n0J:www.emmersonresources.com.au/uploads/HGtennant%2520creek_july7-13_08.pdf+warrego+mill+bills&cd=3&hl=en&ct=clnk&gl=au&client=firefox-a