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15.5¢ peel mining limited

Hi GT55, did RT explain why they haven't drilled down dip at MB...

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Farmdownsouth

2,791 Posts.

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13/12/19

10:52

Post #: 41950261
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Originally posted by GT55: ↑

Sarg, MB isn’t economical, Rod explained to me at Noosa in 2018 $20 million was needed to start mining and the operation would break even. The whole idea is to get down to a depth of 5-600m to get some good drilling platforms to explore what they believe is a bigger resource at depth. Drilling from surface is considered too expensive for this project.
This is what he told me.
So it’s not really a mine at this point thats going to kick cash in into either partners can.
I wouldn’t think they will do anything until there’s plenty of cash from elsewhere to write off on exploration.

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Hi GT55, did RT explain why they haven't drilled down dip at MB North?

PEX Price at posting: 25.5¢ Sentiment: Hold Disclosure: Held
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