Hi all, FYI spoke to a Dave after Fridays...

Hi all,

FYI spoke to a Dave after Fridays announcement/presentation.

He was actually a lot more confident and relaxed than when I have spoke to him than before, He was very very confident when I asked about project he said “no mate we will be fine we have now over come all commissioning problems the plant is perfect and water won’t be a problem again”.

Waster issue will be fixed once and for all this month, the plant is already running at name plate and will continue to do so, As long as the water is there. They will bring bored water into the tails dam as they are brought online and this is being done now! Dave was confident and said that’s not even an issue moving forward so I believe that’s going to be 100% rectified this month!
This means name plate 2.4+ will be running full time next quarter.

Once the pit is open more they will start some drilling to extend mine life the whole pit is open at depth with some of the higher grades right at the bottom of previous drill holes, so will be interesting to see how deep it goes and should substantially extend mine life.


The project has over 150 people on the site at any one time go you need to get your head around that many people working at 45 degrees temperature, It wouldn’t be for the faint of heart, McMahons have now put incentive in place to get the staff and keep them. Why would a miner work for the same money if they could work at another mine for same money 10 degrees lower!
I believe that in January when the airport is open that will also be a huge insensitive rather that a 3hr each way bus trip! For me that would make a huge difference.


As for the mining, the reduction gives more realistic and consistent for staff and consistency, They have the programme now that shows where to dig so it’s about smarter mining meaning more ore les tonnage. It will be able to comfortably feed the mill at 2.4mt.

As we were told last quarter also priced in to current share price. This quarter will be another flat quarter as it was more about fixing water and getting the grade control nailed which he stated is exactly where it needs to be now, the pit is opens up meaning mining easier.

The share price is down over 70% from April high so this should all well and truly be priced in at 140m market cap. So for me we kick around the mid 30s to 40s until the 1st quarter 2023, Unless the gold results continue to be substantial and confirm a new huge deposit this will definitely change things!

It’s not ideal or perfect start to the project but the delays have well and truly been priced in so now I would think the bottom is in both in project problems and share price, slowly moving forward in both instances as milestones are hit in 2023 and a super strong gold price with some top commodity analysts expecting above 2000usd and ounce for 2023.


Last post for me 2022 Merry Xmas and a happy new year to all, Calidus 2023 will be the year!