PRX 20.0% 0.2¢ prodigy gold nl

abu or current producer if you are a gold bull, page-64

  1. 14,019 Posts.
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    Paddyhannan, you need to have a better look at the past announcements, if you have looked at all, because it appears you have little knowledge of what has been done and what the current program is.

    ABU has in fact carried out 17,000ms of drilling prior to this year at OP.
    That drilling along with around 726ms of surface trench results is what they based the jorc resource on.
    There is no way we could have even an inferred jorc resource without sufficient drilling.
    Part of the resource was drilled at close enough spacing to give an indicated resource as well.
    They have since expanded the surface sampling to around 3kms to guide the more costly drilling program rather than just drilling blind and wasting our money unnecessarily.
    The surface sampling gives a far better indication of average grades than drilling at a fraction of the cost.
    That is one of the great positives of this deposit.
    So they have not just been "mucking around" as you say.
    17,000 ms of drilling has been completed before this year and the drilling program for this year has also begun although most of it at Buccaneer while they waited on surface results at OP to plan drill hole locations optimally;
    and its not just drilling and surface sampling. They have completed metallurgical results indicating an excellent and enviable 99.5% recovery and 85% just from gravity recovery.
    In case you haven't noticed they also have completed a scoping study showing excellent results of $257mill cash flow over 2 years for $27 mill capital cost.
    Results since that study show that will just be the start.
    They also have jorc resources based on extensive drilling for Buccaneer and Hyperion.
    They are also investigating toll treating OP ore at Tanami's plant.
    Slide 25 of the April 2012 presentation shows they are budgeting for 50,000ms of further drilling this year.
    They have also recently reported flora and fauna surveys are being carried out in preparation for submitting proposals for mining.
    I really don't think anyone needs to ask Darren to do anything more at all than they are already doing.
    They are clearly serious about moving this to production and doing everything necessary to get there as quickly as is sensibly possible.


 
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