The australian financial revue reported on monday.... "Maximus resources has exercised its option for 100% ownership of the Sellheim tenements in Queensland that contain at least 16,000 pounds of alluvial gold" end quote, page 19.- staff reporter.
It's 16,000 ounces, not pounds or do they know something we don't?
There is a very big difference between pounds and ounces.
Anyway,
The good thing about Sellheim is that alluvial sediments by their nature are alluvial, that is, in sediment and have been moving around over the years as opposed to contained in rock. The estimates can be considerably exceeded due to the nature of the contained gold, but it's quite extraordinary that a staff reporter doesn't know the difference between ounces and pounds, probably an age thing ?
Lower mining costs, higher quantities than jorc identified gold and there's reason enough for a 21c share price. Add in the bird in hand gold in South Aus', the mid west vanadium rich magnetite and the cross share holdings and jv's and there's plenty of upside yet to be realised in the sp.
And just maybe Sellheim will end up 16,000 pounds of gold? Would be a nice little kick along for Maximus with the continuing high price of gold. Maximus has the got the timing right with Sellheim about to commence production anyway.
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