It only took dominion 3yrs to find challenger although it wasn't easy and the mining proved to be difficult.
In 2001, Challenger had a reserve of 110,000 ounces of contained gold and the mine produced over 460,000 ounces up to June 2008. In the three financial years to June 30, 2008, the mine produced 325,600 ounces from 1.18 million tonnes at an average grade of 9.1 g/t. The average operating cost was $319/ounce (not sure if the author is quoting in AUD or USD). That is an incredible costing. Remember that the gold price was just over US$400 in 2005 and about US$800 in 2008.
.*.com.au/companies/news/907683/challenger-gold-mine---calcrete-anomaly-exploration-success-907683.html
Ann: First BLEG analysis yields gold grades of 200 g/t, page-41
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| Price($) | Vol. | No. |
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