Same intrusion hosted gold system as Erindanus. They are great deposits because the broad zones of mineralisation allow bulk mining with good continuity. It's shallow so low strip ratio makes it cheap to mine from the start. Granodiorite is competent and fractures well which makes mining and processing it easy (it also makes following the mineralisation fairly predictable and easy too). Throw in fact that infrastructure is nearby, not just RMS either, there's other regional processing centres within hauling distance so the whole thing is derisked from a development and capex perspective.
You don't need high grade intercepts to make a great mine out of these things. Erindanus is proof of that. Market loves high grade intercepts, they need to be looking at bigger picture here, a lot of pieces of the jigsaw need to fit into place to make a good mine. This has all of them.
ORD Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
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