Ann: Agate Creek Gold Production Update, page-339

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Brady1

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09/08/19

12:23

Post #: 39940434
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Originally posted by moorookamick: ↑

IMO, the May drill results should result in 9K to 10K ozs and possibly 50% more if the adjacent ground lower grades is mined with it.
This adequately replaces the 10K ozs which will be mined for this Maroon processing contract so resource should remain the same
albeit with a higher average grade, IMO.
So if I were LNY I would be inclined to drill out ground adjacent to the May drilling at 20m to 40m depth so that a proper
mining plan could be put in place for a Maroon tranche 2 follow-on contract. Keep in mind that 20-40m depth is only 10-30
meters because current mining has taken pit depth to at least 10m by the look of the photos..

By the end of this current contract (at the end of AUG) LNY should have grossed $8.5 mil with at least $6 mil in the bank, IMO.
( I wont bore you with the sums & I trust that no gold ingots have been smuggled out in computer bags)

Maroon has already bought $18 mil worth of lower grade tenements and it would be interesting to know is there any mining
activities happening on these tenements at present. This would be a good indicator if a follow-on LNY contract is imminent, IMO.
Perhaps someone on the ground in Charters Towers could have a peek?

With gold topping $2200 AUD/oz this week there certainly is an incentive for all parties to pull out corporate fingers and pour
more yellow metal!

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I cant comment on maroon to much but i dnt think they will be to worried about running out of ore

LNY Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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Ann: Agate Creek Gold Production Update, page-339

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Ann: Agate Creek Gold Production Update, page-339

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