Ann: Castlemaine Goldfields Limited Broadcast , page-4

here's another thing that doesn't add up

a poster on this forum "plough" is an experienced miner who was the owner of a gold mine as I recall - he said that the tunnelling cost to get to Mako would be about $5000 per metre for 400 metres equals $2 million dollars

looking at CGT's tunnelling costs per metre calculates to be about $10,000 per metre which indicates total tunnelling costs of $4 million to get to the Mako lode

CGT had $10 million in the bank so getting to Mako could have been achieved without having to do any capital raising