"Historically the renamed Donaldson reef has returned around 2 g/t. Where I saw it it was around a 60cm wide pure quartz reef, no discernable laminations which is where the majority of gold was found at MS."
You are talking about a different reef. There is Stacpoole which was renamed from Donaldson, and there is New Stacpoole which is different.
"The drill result didn't show economic grades or widths imo."
The drill results of the reefs at MS never did and they typical had a massive uplift of around 10-15x
"Too many here are taking it as a given, to suggest it can fund a decline is one of the most fancifal theories I have ever read on hotcopper. You do realise a decline costs at least $7000 per metre? At 1 in 7 or 8 gradient how deep do you want to go. Do the maths!"
So about 150m of decline is required, so about a millions dollars of untaxed (thanks to rebate) from net profit. How is fanciful?
"Looking at the head frame if you look to the left to the top of the hill there is a kilometers long reef only ever mined to shallow depths. As far as I know MCO never drilled it. Wonder if a few holes there would be worth the punt."
Sure why not?
AUL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
