low grade ore

I am more than likely wrong so please correct me but the ore they have mined from the start of the Maxwells reef/ore drive looks to not be worth processing as the grade will be too
low given the announcement:

"Two assays have been returned thus far from the new Sub-level development.
These related to ~2kg chip samples taken from the sublevel drive heading
southeast at an area where the reef is observed to be 80mm thick as depicted in
the accompanying long-section diagram.
The results were as follows:
Sub-Level (Altered Wall-rock) 1.89g/t
Sub-Level (Reef) 4.99g/t "

If they had continued the drive towards the higher grades at Maxwells then they would have had some very valuable ore IMHO.

So why stop so close to victory?

Also the Waverly drill results looked very poor no worthwhile intercepts

Only good news was the possible extension of options and that they have located another reef above and to the North of Maxwells which we thought would be the case anyway.

But its good they stopped mining to conserve cash no good flogging a dead horse but if they had pushed just a little further towards the high grade ore at maxwells maybe it would be a payable mine.