Yankiwi first of all thanks for engaging without ‘the cult...

Yankiwi first of all thanks for engaging without ‘the cult think’.

Trying to get sense of $$$$ to do things in NZ, Federation is a sample of 1, but you work with you have got.

Federation historic mine stopped production in the 1950’s, owned by OGC

Talisman historic mine say it stopped 1915,

Both underground and productive in their day.

Not 100% but seems to be the case, both existing historic works on gov’t land with some old existing infrastructure.

(others who know these areas can perhaps fill out the comparison)

Talisman raises in dribs and drabs and tries to re-use tunnels dating back to the 1900’s.

It tries to squeeze through govt red tape and tip toe up an existing mountain road that they don’t own and control (being careful not to step on any star arsed frogs).

Federation ignores 1950’s infrastructure /tunnels and starts with clean sheet of paper.
Sets out to raise circa $50m and gets NZ govt to tip in $15m.

Modern infrastructure (look at their photos, they are not crawling in with a wheelbarrow) mains power to site etc

Federation is/was an OGC asset, permitted up the wazoo by a big corporate team.

Federation are working from PRIVATE Land & they don’t seem to have Yokels with Pitchfork issues.

Federation plan to play it out in 5 years one way or another, Talisman moves in in spurts, over how long did you say 30 years.

Federation is myyardstick (yes I know it’s a sample of one) of what doing it ‘properly’ in NZ lookslike and costs, i.e. tens of millions of dollars.

Talisman are working on the drip, which is not great. From their recent comments it looks like that they have come to that the conclusion as well.

You can be a small scale mine - a couple of guys and a truck, or a company mine, tens of millions etc, but in between is a no man’s land where there is just lots of pain.

As I said earlier, the stock is fun to trade at these levels because of the price . But there are better prospects in easier places.

p.s. Jupperton is our Lord and saviour - do you mind if we abbreviate that JOLAS