Ann: Business Update, page-78

That overpriced USD is giving the AUS gold price a massive boost. Hopefully when the overpriced USD is pegged back the gold price is trading at all time highs of at least $2600.00 +.
The more I think about that pumped hydro business the more I like about the 4 major cost benefits over the mining sector.

1. A pumped hydro business would not require a massive labour force.

2. Less COVID absenteeism with a smaller labour required.

3. No expensive fuel or diesel to run mobile plant and mining equipment.

4. No expensive power bills to pay as we will generate our own power free of charge.

Not only that but other mining costs like pits not accessible due to floods, walls collapsing, expensive maintenance on hundreds of pieces of equipment, unexpected mill parts breaking creating unplanned shutdowns.

I’m sure the list can go on and I’m not that naive to know that a pumped hydro system won’t have it’s cost issues but it certainly won’t have as many costs as the mining industry has.