Where on earth do you get two years of resource from McNally’s...

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aurifice

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19/08/20

12:48

Post #: 46654400
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Originally posted by 03boz: ↑

It looks like AUL have established a two year resource from the McNallys reef extension alone, which seems to extend right through to level 8, there would have to be 11,000 T there IMO.
Well done and good move Paul, for pushing for the kempes !
I think it's clear AUL will now continue drilling to define a JORC resource at MS, but due to the enormity of the drilling needed to define the JORC, this will take some time to achieve.
Following on from the success of AUL'S current drilling campaign, I wouldn't be surprised to see AUL add a surface drill to the plant and equipment inventory and establish a regional drilling campaign.
It's my view that they now have a very good idea where to stick it
Overall a great job AUL !!!

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Where on earth do you get two years of resource from McNally’s extension alone? If you are correct with your 11,000 tons estimate, you mine it over two years and it grades around half ounce then you are looking at 5500 Oz over two years = 2750 Oz per year. Given an AISC (still a secret) of around $1500 Oz you are talking a surplus of $2,750,000 annually given a gold price of $2,500/Oz. How long do you think that the company could maintain an in mine and exploratory drilling campaign on such marginal and highly speculative figures.

AUL Price at posting: 40.5¢ Sentiment: None Disclosure: Not Held
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