Two good reasons Greg Durack and Deflector. Some comments by Barry Fitzgerald (The Age Resource editor)
that I posted some time ago
"Key to the turnaround has been the development of a treatment flowsheet for all three ore-types at Deflector, a challenge that has confounded previous owners of the deposit.
The project has also come into its own from an exploration perspective, with successful deep-drilling programs resulting in a bigger than expected resource upgrade to 775,000 gold equivalent ounces late last year. The metallurgical progress and the resource upgrade prompted Batavia to accelerate the scoping study, which could confirm the viability of a project development costing only $15 million or so thanks to the existing plant and infrastructure at the Gullewa site. Annual production could be more than 40,000 ounces of gold and 2000 tonnes of copper, with first production possible in 2007.
Funding should not be a problem, with the company's interim requirements covered by an $8.9 million raising comprising a $1 million placement to an Asian gold fund and an options issue, involving the early exercise of the company's June 2006 options at 5¢ each."
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