Over the next couple of months, GSN will look at options to finance further exploration – primarily to quantify what it has at the Duketon project.
While equity markets are always an option, Keane says the company’s preference is for an asset divestment.
Keane said proceeds from such a sale or other capital raising will be used to either define resources at the three main prospects at Duketon or to at least give the market line of sight to what sort of ounces or resources they are likely to contain.
“We want to drill, drill, drill and show the market what we have got,” he noted, adding that news flow will also come from the Queensland joint venture with Gold Fields to drill “exciting deep diamond holes which could give us anything”.
“They have got the balance sheet and the technical capability, there are not too many groups with the skillset to really understand porphyry systems and epithermal,” Keane added.
“Gold Fields has not only discovered those but are mining them, so they have got the in house technical capability which is beyond what we have as a junior.”
Good luck to all
Chomp Chomp
GSN Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
