Ann: Thick Zones of High-Grade Gold Identified - Mt York-KAI.AX, page-17

It looks like they are seriously going to build on this remnant gold asset.

Particularly the Iron Stirrup mine. I understand that the good Old Faithful pit is flooded, which may or may not be the case at Iron Stirrup.. but from Ninja_Chook's aerial photo at least one big pit looks very damp.

As I read it, at Iron Stirrup all approvals necessary to mine have been obtained as it was mined in 1997.

http://geodocs.dmp.wa.gov.au/viewer/multipageViewerAction.do?documentId=473391&viewMarkId=0&ct=true&at=none&btv=true&atv=false&vmtv=false&ac=ff0000&cabinetId

"A pit-wall collapse at the open cut occurred at a time of depressed gold prices. ($250/oz) At that time Lynas was very keen to locate the Lynas Find treatmant plant to the Paraburdoo Gold Projrect. These factors prompted Lynas Gold to cease mining operations altogether leaving in-situ the remaining goodbye-cut from the Iron Stirrup mine and the proposed cutbacks at the Breccia Hill and Main Hill pits."

So lots of historical drill data, road access previously established, perhaps power also provided. All mining approvals done. Overburden removed, and geology understood. Also presumably an effective process to efficiently leach has also been done as it was a working mine previously.

Potentially ready to go for underground mining...  after pump out.

Almost all the work has been completed.. at the time and expense of others.

Instead of a sequence of capital raisings to fund the constant search for Lithium, this approach offers a way of gaining excellent and very rapid cash-flow to fund future extensive exploration.

One just has to define the resource more closely and do some sums at $1300/oz instead of $250 (in 1997 dollars.)
A PFS should not be too difficult, and a small cash-generating gold plant re-established... possibly processing ore from several local sites.

It is the cash for funding on-going lithium finds that this gold offers, more than a bit of profit.

I feel that it could likely be fast tracked. Setting up a small gold operation should be a piece of cake. If nickel really takes off again, it could even fund that too.

So while it may not be the big money earner of lithium, it sure can fund it quickly and easily without diluting shareholders or management out of existence... at silly low share prices.

A small, modest, but good cash generating gold plant would be a brilliant strategic move, even if it was JV'd.