1.5MT x 1.3g/t = 62,700 ounces of gold at a minimum, potential for more. We own the mine, probably would contract dredges and need to get some pumping to be able to pump back to the mill.
62,700 ounces is worth ~ $200M AUD at today’s gold price. If it’s easy going it certainly could fill the pockets up for us to be able get back into hard rock mining without huge dilution.
This is the most promising thing I’ve heard from LRV in over a year. Most hard rock mines aren’t mining grades that high or as easy to get at. Sign of more positive things to come hopefully.
Ann: Hillgrove Preliminary Metallurgy Testwork Results, page-5
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