“The company is looking into the viability of processing 2 million tonnes of previously mined material on existing heap leach pads to deliver early cash flow, an objective that is supported by the presence of third-party toll treatment facilities within trucking distance at Thalanga, Charters Towers and Mt Garnet.”
When I said a CR couldn’t be ruled out I’d forgotten about the leach pad processing. CNB is doing something similar with its old tailings which they’ve recently sold to a 3rd party milling company for cash and a NSR. These two businesses have a few common threads, including being two of my largest gold holdings (need to update my sig having recently bought more GNMOF).
If they can process/mine the leach pads that would deliver near term cashflow facilitating further drilling campaigns without the need for a CR/ dilution. Nice
Ann: Impressive Results from Camel Creek Drilling, page-16
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