Just a small follow up as I pondered a bit more on Fender coming online soon.
It basically has 3 years of reserves, with production likely to sit at 20-25k p.a. Not a large U/G mine compared to WGX others, but... they literally started mining it, then... shut it down (a wise move I think most would agree due to the huge issues with staffing during Covid), so all the capex is sunk.
Again, With Big Bell running at almost 1.16mtpa currently (but with the expansion, will grow to 1.4mtpa), tack on Fender and the Tuckabianna plant is already filled, with perhaps 100kt to be sent north to the Bluebird plant. That fully excludes Great Fingall, which... again, is estimated to mine 400ktp.a which will all have to go North. Basically, the CUE hub will mining 1.9mtpa of U/G ore. What a monster operation.
Fender Nov 2021
What got me most interested, was actually the potential for more Fenders. I can only assume that in the medium term, all these deposits will be tested at depth. Hence, I really would like to see them ramp up exploration even more. As in reality, 9 rigs are running, but 7 are doing infill/extensional drilling, good for mine life, but not discovering 'new' gold.
Also looks likely that WGX can extend the mine life of Fender with further exploration drilling.
@Joelstar - found this regarding Fender. Gives some perspective on Never Never at the lower levels which are... basically 5x this endowment.
Not being elitist in regards to Fender, a profitable U/G mine is great.
Plus... perhaps I missed this... the timing is just perfect, with WGX having made a move on GCY just 6 weeks before this announcement.
Though obviously, the plans have been more than shelved, with Tuckabianna receiving the upgraded power plant (gas) to reduce costs etc.
WGX does indeed, have more ounces in the cupboard.
Nice move in AUD POG on Friday, just 2 more days until WGX can start selling into the spot price (though of course sales are lumpy as no company sells daily).
(20min delay)