re: Ann: New MD discusses Exploration at Ball...
The BBR was a nice introduction for newbies.
Putting things into perspective:
1. Matthew is not a ramper. Going back to the assay results on his slides, I guess the bottom line (financially) is that we have good commercial results this far. (Matthew's words are expectations met. A the risk of a little ramping I added the work "commercial" after reviewing the results)
2. We have good gold on Suliman Britannia . How far does it go ??? for this we have to wait a tad for results.
3. Have good results at Suliman North. Same Question how far does it go? And sort of the same answer however on results to date the rough consistency (by my uninformed eye) between what is being at both locations gives me some confidence .
4. Good results at Brittannia Mako also . . . one again there is that question mark on the slide about how far it goes . . . and once again the results of this one . . . provides my uniformed head with still further confidence as we are not seeing too much in the way of erratic results (this far). Indeed all the results thus far significantly exceed the grades BDG is mining at Bendigo.
5. Not withstanding what appear to be commercial results (this far) from Ballarat, I got a strong impression of further warming towards Castlemaine. I note that many a goldie tries to aviod (where possible) the risk of operating from just one mine.
I get the stong impression that CGT WILL be adding to some potholes on the 80kn of road between Castlemaine and Ballarat. As an AGS holder, I note that Maldon mine (which is up for sale) has facilities a LOT closer BUT then there is the ussue (risk) of underutilisation of plant at Ballarat. The more processing plant gets used the more cost effective it is to use.
7. Matthew noted the Gold price, he is aware of the challenges and needs time to get his head fully around Tarngulla and Sebastian. I would speculate that Matthew's thinking is not inconsistent with the leading posters on this thread.
8. I like the emphasis on managing costs.
9. I can only call the numbers as they appear and there are many more numbers to come. Hopefully we get a nice present from CGT at Christmas (no guarantees but fingers are crossed).
Cheers . . . and I note that the above points are my understanding only. D.Y.O.R>
CGT Price at posting:
47.0¢ Sentiment: LT Buy Disclosure: Held
