There was a very positive vibe in the room imo Directors spoke candidly as did the chairman Seemed to be an air of confidence about the companies ability to transition to producer, no doubt bouyed by the recent discovery above Juno, the impact of this on the economics of Juno can not be discounted.
Comments made by Matt Sullivan were very interesting, particularly his reference to the Cube consultants and their reaction to the grades coming out of Juno, they were stunned ! Cant say he did a very good job of hiding his excitement, lol It was confirmed to me that the projected economics of Juno have been calculated on Gold values alone, the value of the copper (which has to be mined anyway) has not been included in any of the profit calculations. One can only guess how low cost of mining will be if copper credits are added to the equation. There was some discussion of ore treatment and the options that the company has at hand, seems to me like they were leaning towards purchasing a second hand plant, will depend on estimated thru put.
As reported by others 3 rigs will be onsite in December and reducing to 2 rigs in Jan after a break. Tailings are being drilled atm as well as rest of holes at Juno and follow up of new Juno pod. More results due as they come to hand.
I note from the presentation that environmental studies have commenced and it was said at the meeting that the company was starting work on 'long lead time' issues.
The tone of the meeting and the technical presentations were all very encouraging imo
DSE Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
