Ann: Scout Drilling Confirms Gold Mineralisation at Hampyeong, SK, page-10

Some Quotes from the Align Research Report : Gives us a taste of the ***ong Feasibility Study to be announced by Blue bird any day now....
"The initial capex on each project of US$4 - 5 million includes a pilot plant with a capacity of 250 tonnes per day (tpd) which will at first be run at 100tpd. These processing systems are modular and so vat leach capacity can be expanded by bringing in another tank. Processing costs per tonne are estimated to be in the range of $20- 40/t, with $30/t seen as the most likely"
So therefore based on these figures : Sau's share of capex to bring ***ong into production will cost approx 3.3 Aud million.

"The first year of production at both ***ong and Kochang is expected to be 8,000 ounces of gold. With orogenic gold, the trick is to find the structure because this is spotty gold with individual veins varying in width from 15 centimetres to 1 metre."
So based on this ***ong will only produce 2,000 ounces in first year - thats for Sau 50% share! but this could be at very high margins 800-1000 Aud per ounce profit! could be 3-4 million free cash flow to Sau, this would cover the capex spend for the start up of the mine in one year. Looks like Blue bird want to start small, but very profitable and then go very big!

"Work on the feasibility studies of reopening the mines at ***ong and Kochang has already led to the expected capital expenditure for a 100,000 ounce per annum (pa) operation of US$28 million. Gold production in the first year is planned to be 8,000 ounces and rising steadily to 40,000 ounces in year 4 (2023) with a big step change in year 5 (2024) to 100,000 ounces."

This all speculation , based on the Align research report, the ***ong Feasibility Study however should confirm and maybe exceed these predictions!

Thanks also to who ever sold me very cheap shares today at 22.5 cents, was much appreciated! Cheers ST