Given that we are consistently knocking down milestones flawlessly it's likely we will have at least $20-30m left over for exploration. The chairman alludes to this in the annual report: Whilst delivery of the mine development for first gold production next year is the Company’s main focus, we are also starting to turn our attention to the very significant exploration opportunity that we have at Karlawinda. We hold over 2,000 square kilometres of tenure and have significant areas of prospective greenstone within that area. Very little exploration work has been undertaken outside the main Bibra deposit area and we have started the process of targeting and drilling in several areas. We are very conscious that a new discovery within trucking distance of the processing facilities would generate significant value for the company. We look forward to pursuing a concerted exploration programme in the current year.
CMM also divesting Madagascar - now hold 2,000,000 BEM as part of that deal (decent SP gain since Annual Report)
Well done to the team and fellow shareholders
CMM Price at posting:
$1.78 Sentiment: Buy Disclosure: Held
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