Those last two paragraphs on page 2 are the juicy ones.“Phoenix...

Those last two paragraphs on page 2 are the juicy ones.


“Phoenix has worked closely with all processing plant operators in close proximity to our projects and have signed deals with 3 mills in the short term and we will continue to work with them to have ongoing capacity of up to 500,000 tonnes per annum from 2012”, Mr Price said.
“Securing milling capacity can enable development of the Catherwood Mine in the first half of 2012 followed by a series of developments including Blue Funnel, Outridge, Rayjax and Nazzaris. Our aim all along has been to fund our exploration by starting modestly with low risk stockpiles and smaller open cut mines and ramp up to a larger production base on the back of an increased Resource base. We anticipate updating our Resources in the December Quarter incorporating the latest drilling data,” he said.

That sort of tonnage at a lowly 1.5g/T equates to 20K ozs by my reckoning, give or take. $10M after costs?

:)