New Analyst report is on GOR Website today from Argonaut, it is an very interesting read.
For those naysayers pertaining to % grades, there are plenty of examples of companies with of grades of 1% or less that are economical, for example look at Exco Resources Whitedam Project for example, they used leaching however made many millions from low cost production in a JV with Polymetals.
In a nutshell it comes down to basic economics 101 that applies here, if it is cheaper to pull the gold out of the ground than what it costs .....than it is a viable project, add an upturn in the gold price and it would change everything.
Throw in a initial resource of a very large volume, near surface (open pit), easy extraction and the value add of high grade (central bore) nearby and the economics may be already there, remember the initial Gruyere resource (is a very large 3.8 moz, and it seems will expand over time) Ian Murray commented, if extracted, the gold alone at Gruyere is worth over $5 billion (at current prices).
Add the new director announcement today and this looks like a serious proposition, no doubt his expertise here will be brought to the fore-front, my fingers are crossed for an exciting period ahead however, only time will tell as this pending story unfolds.
Good luck to all holders
Cheers Aussie
GOR Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
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