"...with a view to increasing targeted annual production rates at Dargues Reef, where gold production is targeted for 2011."
This is the key piece of info in the announcement and exactly what I was hoping for with the recent news.
Increasing the annual production is where the real value is and significantly impacts the economics, way more than just adding years on the back-end of a 40-50k Oz per year mine. I was very glad to see this and am now hoping for a rate of 70-80k Oz/annum and ultimately a mine life of at least 10 years, given the surrounding exploration potential....the sp will BLOW on this confirmation later in the year....looking at 40c+ on release of the DFS in November, assuming the annula rate is in the 70+ range...
I will be buying more on any weakeness over the coming month...
CRC Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
