For sake of an up to date example (albeit it's a scoping study, so...) HRN just provided a scoping study for their project up the road from SPR.
No underground yet, but then... that is why the grade is so low. Imagine if the grades were 2x... 2.5x or even 3x like SPRs will be.
There is a lot of sunken infrastructure/permitting at the HRN project, including roads, mining leases, airstrip, TSF etc. These are all costs that the likes of RMS will have to pony up when/if they develop their Roe/Rebecca project.
Another example is AUC...
It's not $$$, but time too. Which basically costs money because of admin, permitting costs etc etc.
Both projects are arguably 3-5 years away from being in production.
In any case, off the top of my head, I cannot think of a single gold project in construction in Western Australia (well of size above 50k ounces p.a).
You can sit on assets like RMS, or... you can buy assets that are in production (which funnily enough RMS are also looking at doing), or have existing infrastructure...
SPR Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held
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