Couldn't agree more juk. Jon told me that a plant would cost around 100 - 120m to build. Walk before you run is by far the way to go in the short term.
Paraphrasing; "[We] will then assess development options for the combined projects as this expanded resource base should justify the capital for a processing facility (an estimated $100 - $120M)."
A recent article that also agrees..
ASX gold producers bounce as spot spikes; Phoenix Gold, Silver Lake, Integra Mining, Lachlan Star
Monday, November 28, 2011 by John Phillips
The yellow metal has once again found investor support, with spot gold rallying to above US$1705 by 3pm in Sydney, Australia.
Where this precious metal story gets very interesting is the speed in which ASX gold producing stocks have reacted positively to the increase, with companies lucky enough to be able to pour gold rallying.
Proactive Investors will focus its gold analysis on the small to mid-range sector.
Leading the charge is Phoenix Gold (ASX: PXG) which has jumped 5% to $0.22 in afternoon trade, with the company pouring its first gold bar earlier this month through a milling ore agreement with FMR Investment’s Greenfields mill.
Where Phoenix is leading many other $20 million odd valued companies, is that by initiating the ore agreements it has transitioned into being a partially self-funded explorer - a very clever position to be in considering the current financial climate in trying to raise funds for development.
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