Ann: Multiple tenement applications to expand Cox's Find Project, page-22

First 22 Last

Share
Profile

Follow
Lurcher.A

410 Posts.

43

29/07/20

10:11

Post #: 46143932
Share
Originally posted by gbgirl: ↑

Great Southern Mining (ASX:GSN) looks to expand Cox’s Find

Mining

ASX:GSN MCAP $65.45M

Lisa Simcock Markets Reporter [email protected] 28 July 2020 16:00

Source: Great Southern Mining

Great Southern Mining (GSN) is looking to expand its Cox's Find Gold Project after purchasing it in August last year

The company has lodged applications for four tenements, which are located near Cox's Find

If the tenements are granted, the new land will increase Cox's Find to a total of 54 square kilometres

Great Southern's exploration team is currently gathering and analysing all historical data over the applications

On the market this afternoon, company shares are down 5.88 per cent and are trading for 16 cents per share

Great Southern Mining (GSN) has lodged applications for four tenements near its Cox's Find Gold Project in Western Australia.

The company purchase Cox's Find in August last year and has been focused on expanding the project.

The applications will increase the landholding along the Duketon Greenstone Belt which hosts major gold deposits.

The area around application E38/3518 has been identified as a highly prospective for gold and has excellent exploration potential. The area has a number of historical workings and provides Great Southern additional walkup drill targets.

If the tenements are granted, the new land will increase Cox's Find to a total of 54 square kilometres. It will also include over 12 kilometres of access to the mineralisation trends that host both the Garden Well and Rosemount gold deposits.

CEO Mark Major says the applications are a major step for the company in the Duketon Belt.

"There are multi-million-ounce deposits such as Garden Well only 12 kilometres away with Rosemount a mere 20 kilometres from Cox’s Find," he said.

"With the potential for such a significant increase in land holding, underpinned by the high-grade Cox’s Find Project, GSN is well placed and well-funded to unlock further potential in the project through discoveries and potentially adding scale to the project," he added.

Great Southern's exploration team is currently gathering and analysing all historical data over the applications.

On the market this afternoon, company shares are down 5.88 per cent and is trading for 16 cents per share at 3:23 pm AEST.

Expand

it does sound very exciting, and both of those articles are positive but, and this is the thing I'm trying to understand, both refer to the applications as possibilities and not done deals. The first one twice says "if the tenements are granted". The second uses "could" and "should", not 'will' or 'shall'. Neither of them present this news as certainty. For me this implies some level of uncertainty about the applications being successful. And it's that uncertainty I'm asking about. Are these applications ever rejected? Is it likely or unlikely that our applications will be rejected? How long can can we expect to wait until we know if the applications are successful? I'm not trying to down ramp, I'm a keen Buy/Hold - I'm trying to understand the importance of this news and just how much we can count on it?
GSN Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply