Drill results Lithium and Gold, page-11

It seems Convergent was quite bullish on Blue Vein as well it would have been a company maker but I suspect the company ran out of cash before the price of gold rallied this year .

Here is the Blue Vein Pre Feasibility Overview done by Convergent... this is before they ran out of cash and went into administration...

Blue Vein Pre-Feasibility overview

• Plant capital cost = $23M

• Gold production = 43,000oz/year

• Average mined grade of 5.5g/t Au

• 300,000tpa CIP plant with 94% metallurgical recovery

• C1 (cash costs) =A$722/oz

• All-in-cost (including all capex) =A$1,188/oz

• Project free cash flow = A$23M at A$1,400/oz gold price

• Planned drilling designed to increase Blue Vein mine life



So Convergent had planned to expand the resource at depth by drilling ... This now is what I expect the KDR drill program plans to achieve. Whether or not they intend to revamp the old mill for Gold (and why not add lithium?) don't know. Perhaps they intend to Toll Treat ore for gold also in the short term?