MCO 0.00% 11.0¢ morning star gold n.l.

as it comes into focus

  1. 2,412 Posts.
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    I was always worried about funding the obviously necessary decline but the trip to WP and the recent quarterly has clarified everything for me.
    You see the options money just wasn't going to be enough to do a couple of km of decline plus a plant plus exploration drilling plus extra staff and equipment.
    Now it is easy to see that by the time the plant is ready to go there should be ore containing AT LEAST 5000oz at the surface so that tips AT LEAST $5 or 6 mil onto the coffers on top of the options cash/
    As the decline winds its way into the old girl they will be able to access the Dickensens/Shamrock reef junction( always a bonanza in this mine) then Burns( which has returned consistently high assays and mined at 40+g/t with more than 1/2 of the reef intact) and then down to Sydney and Maxwells. You can pretty safely bet on other reefs being found on the way down. $10 mil gets around 2km of decline which should well and truely get us to level9 from my understanding.
    Look I actually always try to be conservative and look for negatives and I can always find a few BUT I am getting bloody excited and confident at the moment and can't wait for the next 6 months to pass.
    That said I expect a lot of pressure on the sp in the lead up to option time but I just look on that as a time to grab every one I can possibly afford!!
    And I haven't even mentioned the regional prospects and the jv!!
    I think I've caught ChiefyJ virus!!

    Cheers Mal
 
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