Longbottom , it was mined when the gold price was a lot lower.
It was open cut , but only Lady Ida was mined .It looks like it has been mined to the point they have to go undergound .It may have graded around 5 gpt.
Sure they might be a good mining opportunity in a high gold price environment.
But what about factoring in the unbelievable loss of opportunity in this incredible high gold price situation , with the compete ineptitude, incompetancy & folly over the mining of Kat Gap..
They have stuffed this up so badly , it would be difficult to have faith in them again?
They have been at it for 11 years & look at the position they are in. Your money , you decision .
Sure there could be a short - term buck in it .
But they are going to have to start the capital raising process all over again .
It will take a couple of years to get to the position got into at Kat Gap.
Others here pointed out they didn't drill it adequately, & grade test it. Rather they bought the Gekko & sample mined it , then just ceased mining it and abandoned it & now they are now proposing to sell it .
This is just from memory , best research it yourself DYOR.
Don't be swayed by Max ,as he is desparate to get his $31,000 back , hence his high motivation to promote it to find a buyer for the stock he is presently stuck in while it is suspended.
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