(Quote) " Current JORC 2012 indicated & inferred mineral resources of 123,000 oz, and an underground exploration target of 24 - 34 mt at 1.1 - 1.4 g/t ........ "
Those underground grades are not mine-able as a target.
Underground gold mining needs to average grades of approximately 4 g/t and above to be economic.
This is recognized by almost everybody in the gold mining industry.
For example, BGL has 11 g/t, which is very good, but poor old DCN has 3 g/t underground and has effectively shut it down as uneconomic.
Why would MDI release such an obvious uneconomic statement ?
Do these guys know what they are doing, after many years of bad failures at multiple projects in Australia and Africa ?
I'll read the next announcement with interest, to try and glean some indication of their competence.
Gw
(Quote) " Current JORC 2012 indicated & inferred mineral...
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