Amigos, Lewis Ponds is only about 10km to Orange, which is the centre of analysis, exploration & mining in the central mining district of NSW. So there is plenty of existing expertise at all levels. As I understand it, there is al least one plant that does treatment of ore - but I am not sure whether that is the direction which GRL would take. Time for someone (hint - @RED328) to get on the blower and make a few enquiries on behalf of GRL shareholders. My rough estimate of the worth of the existing in-ground resource is more than $1 billion (i.e., for gold alone: 400,000 oz x AU$2500 per oz = AU$1,000,000,000). The long sections of the lodes (eg Figure 2) show that there is high-grade near surface so open-cut mining is a likely proposition for a start-up operation, IMO. The metallurgy which was based on flotation, seems quite reasonable. I think Lewis Ponds is becoming more interesting with every announcement. GRL is currently drilling to expand and better define the resource. And GRL has a market cap of only $20 million? Crazy or what?
GRL Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
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