Its been many years since this project has been looked at. The sulphide ore and limited size have always been a bit of a showstopper because the mills required are super expensive and energy-intensive to build and run, ore head-grade would need to be pretty high to justify trucking 100km to somewhere else, especially with the state of the Bruce Highway in that area. The geology is also as hard as buggery, and might require more explosives than even Bajool can provide to mine it, and the volcanic host rocks also contain a ridiculous amount of water that is potentially acidic so needs storing somewhere, as do the nearby waste rocks which might also be potentially acid forming. At least they didn't smack up wind turbines or powerline infrastructure over the top of the deposit recently, so that was a close call.
The porphry stuff at depth is all just blue sky and may not even be there. As other posters have mentioned, there were valid economic reasons why the previous mining and open-pit studies only planned to take the smaller high-grade portion of the deposit, but sky high gold prices may cure everything, and this thing does get mined in the future.
I haven't been paying close attention to QML lately but assume that the drilling and discovering of copper and zinc is being studiously ignored by the market?
QML Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
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