This is a very positive ann but early days. Note that they have 2 good hits from 3 holes at Range View. The strike length is impressive. This is oxide, shallow and high recovery gold. It's open pit so will have a very low AISC The drilling at Range View was shallow and the gold mineralisation may replicate deeper. No doubt they will test this is the forthcoming drilling campaign. Of course a lot more drilling will be needed to find out what's there but this is a great start. The location of the project in the Sandstone area is favourable Sandstone has abundant gold resources and there has been talk for some time about having a regional processing hub there. Middle Island is another Sandstone gold company and have said that their processing plant can be recommissioned for just $10m. Best not to get ahead of ourselves by Sandstone in WA is very much RMS gold turf. If the next holes are also good I can imagine a JV with RMS, to do the heavy lifting.
VMC Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
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