HAOMA are attempting to satisfy the ASX by having an accredited geologist sign off
the reports
However they will continue posting results on their web page as they get them. They believe keeping the market informed is best practice
HAOMA now has 2 development streams
the new conglomerate development
the ongoing extraction of hidden precious metals
the conglomerates will take priority because
there is easily extracted gold from nugetts and fine gold using a fine crush, cyanide and acid
the question of hidden gold will be investigated using the ELEZAC process
the total precious metal grade of the conglomerates should be known in 3 months say March 2018 quarter.
If the grade was high enough say 400 or greater gms per tonne I think they might spin that off as a separate company.
This would self fund and provide capital to upgrade the plant
The two streams will use the ELEZAC process. The contribution the ELEZAC process makes to the final total grade of the conglomerates will determine how the conglomerate stream is managed.
It was acknowleged that HAOMA had significant tenaments which had all the licenses for mining and processing.
It also has a licensed plant that can be used to process the conglomerates. However some upgrading will be required
HAOMA will be a different company in 6 months and the grades of the conglomerates will determine the difference.
HAO Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
