It's a decent amount of dirt for a $10 million program, Most explorers spend a whole lot more $ for a whole lot less drill metres. And most of our drilling will hit grades and lengths similar to historic drilling across the area. Virtually risk free drilling. A lot of the hard work has been done by previous owners.
This is prudent resource expansion at it's finest.
Buy 2million Oz of inferred resource at $20 /oz for $40m Spend $10m to add to MRE and transfer to measured and indicated categories allowing DFS and further drill targeting in first 12 mths. Kaboom - Up sized Mt Gibson MRE for next years Xmas present. This drilling campaign is spot on.
This is how these guys add value to our investment in CMM
CMM Price at posting:
$3.18 Sentiment: Buy Disclosure: Held
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