CYL 1.46% $2.09 catalyst metals limited

Ann: Shallow Trident drilling returns 38m at 2.9 g/t Au, page-16

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    There were 3 major corridors of super mines in the 412 sq klm area within the Marymia region. Even though less than 5% of all of Marymia had been explored Trident was always regarded (by us old timers) as the companies Crown Jewel. It was always planned to go open cut with Trident as 60% (now 70%) confirmed high grades at shallow depth superb for open cut plus high grads at depth - all pre native title, infrastructure, roads , air fields all in place. We just needed a plant, mining expertise and MONEY, which we didn't have hence the T/O by CYL of VAN and SGI was a godsend.. Legal battles went away, money raised, Bruce Kay in the mix, under-utilised plant in place all ready to go. It was a 3 way merger made in heaven. Despite my criticism of James re marketing initiatives (or the lack thereof) I believe he is now engaging with some heavy hitters around town. My only other criticism is why waste money on a DFS/BFS for Trident? With gold USD$3430 oz and AISC dropping quarter by quarter with free cash flow in abundance why not self fund and dig the open cut to feed a hungry plant? Anyway all I can say is that I grateful for current events.
 
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