All grist to the mill - just need to establish commercial quantities of the stuff. Whilst we focus on the AU, there is a load of other good stuff they are finding. Will be interesting to see the next resource / reserves statement.
PS that is $1758 AU$. IGO are processing AU at about $700 an ounce, yielding about $1k gross profit per ounce. We will need a concept plan for mining and processing in the not too distant future.
AFR
'[SINGAPORE] Gold held its biggest weekly advance in two months as the US dollar weakened after the Federal Reserve refrained from raising interest rates and scaled back tightening plans.
Bullion for immediate delivery rose 0.1 per cent to US$1,338.91 an ounce at 8:15am in Singapore after a 2.1 per cent gain last week, the most since the period to July 29, according to Bloomberg generic pricing.
The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, fell 0.1 per cent on Monday, following last week's 0.6 per cent decline.
Gold is headed for a third quarterly gain in what would be the longest rally since 2011, when prices rose to a record. Last week, the Fed trimmed its projection for rate hikes next year to two from three, while the Bank of Japan shifted the focus of its stimulus from expanding the money supply to controlling interest rates.'
MGV Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
