A quick bit of checking shows only 4 operating gold mines in Victoria at the moment and although there are mines fairly close to Myrtleford , some companies are then trucking themselves to processing plants further away. For example Kaiser Reef have the A1 mine near Jamison but are trucking their ore to their processing plant near Maldon. That's about a 300km road trip from Myrtleford, so not looking super close. Mandalay resources has the Costerfield Mine near Heathcote but that is 230km road trip from Myrtleford. Fosterville is about 230km road trip as well. Stawell is probably too far for transport purposes and is owned by Arete Capital a private equity firm. Until recently there was an active mine at Morning Star near Woods Point but the company owning that, Morning Star gold is now into liquidation due to rising rehabilitation cost of their mine. Unfortunately it was probably the closest option distance wise. If the processing plant was suitable ( but we won't know that for some time) we might have been able to offer liquidators a sum just for the processing plant , but looks like timing and circumstances have killed that option. So nothing real close and limited options, but 230km might be doable. So not totally out of the question and something that could be revisited when we get a better idea on the resource we may have.
Christopher
AVM Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)