Early Development to fund further drilling. Now wouldn't THAT be nice.
Mr John Jones, Chairman of Anglo Australian, said today:
“The appeal of this project is the fact that, at Mandilla East, we already have an Inferred Resource of approximately 38,000 ounces of gold.
“Based on a third-party optimisation study undertaken in 2011, at a gold price of A$1,700 per ounce, an operating profit of approximately $10 million is calculated.
“It would be nice if we could add to this inventory of ounces whilst we pursue options for early development.
“Any proceeds received could be applied towards the Company’s other exciting exploration activities.”
