Very true! As I have said plenty of times before, short term pain for long term gain! There are only a couple of mills left which are available for sale in the WA goldfields now. We have seen a lot gobbled up in the last couple of years while the opportunity was there. AWJ bought Burbanks a couple of months ago and that was one of the few left.
Companies who are transitioning to mining (and there are a lot of them now). NWM is a good one which I am keeping a close eye on. These types of companies are going to have limited options below (that’s if they do not get taken over prior).
1. JV or some sort of agreement with a company with deep pockets who can purchase a mill. 2. JV or toll milling agreement with a company who have milling operations (us in 2026). 3. Debt with the banks to purchase a new mill. Basically mission impossible for the low to mid cap end of the market.
With the shear number of companies currently proving up gold deposits and looking to get into production, it is quite possible that most of our future income won’t actually come from our own operations, but from the operations of other mines.
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