Ann: Portal Cut for Kanmantoo Decline Commences, page-23

" the MC51, is designed to advance more sustainable mining methods by reducing the amount of equipment required to get to the ore body.”

The MC51 is designed to excavate the most often used 5m x5m tunnel and feed the excavated material either into a LHD machine or onto a conveyor (subject to more R&D) Whilst it might be used for the stope access tunnels as well as the declines it would seem that the actual mining of the stopes will still involve drill and blast.

As we know Lachlan has been talking to mining service providers for some time. One wonders if he has picked Pybar as his preferred provider or whether they are tied in with Komatsu.

Given the desire to debt fund the mine development I'm not at all sure HGO have established a good enough record as an owner operator when it comes to mining to get debt funding on that basis. It would be normal for the lenders to insist on the work being contracted to a respected Mining services provider before they start advancing funds to give them enough comfort in relation to cost to complete the work.

The old saying "Build it and they will come" is a good reflection of the fact that when you have a project ready to go the resources you need to get it done will be available if you have a good reputation of being a fair client.

With all the talk about the shortage of drill rigs HGO must be a top shelf client because it no sooner got the funds and the rigs arrive.