ATN ashburton minerals limited

drummond basin *one to watch*

  1. 4,005 Posts.
    ATN recently acquired Wirralie Mines Pty Ltd from Placer Dome Asia which is the owner of the Drummond Basin gold assets including the Wirralie mine, a 1.5 Mtpa CIP/CIL treatment plant and infrastructure & 3600km2 of exploration tenements.

    An independant report by RSG Global indicated an oxide resource at Wirralie recovering 85k/oz in under two years @ the gold price of the study of au$550/oz.
    Keep in mind that at au$575 the recoverable ounces increase to 100koz au.

    In other words ATN is on the verge of a massive turn around. At au$550/oz ATN could have a mine capable of delivering au$12 million in cash flow at a very short period of time with capital costs less than $2 million

    I hold


 
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Currently unlisted public company.

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