Ann: Trial Mining Permit Received for Old Pirate , page-19

re: Ann: Trial Mining Permit Received for Old... “Is there any reason why the area cannot support a Very profitable Gold mining operation”

286,300 tonnes averaging 12.15g/t gold for 112,000 ounces of gold in the indicated category and in the top 30ms from surface (free digging open pit with no overburden). Very low cost gravity only processing of very high grade ore (less material to process). Extremely low capex, no debt.
Is there a mine anywhere in Australia with these advantages?
I don’t see any reason why this won’t be very profitable, especially in the first few years. The more they extend this along surface the longer the very high margin near surface mine life is extended.

“Initial 10 g/t for 10,000t, lets see how that pans out, if they can back this up they'll be set, we'll be set.”

My money is on 10g/t as a head grade proving conservative.
The top-cut resource is now on 10.1g/t. The uncut resource averages 11.96g/t.
There is (inconclusive) evidence to suggest grades will reconcile higher than suggested by lab assay results (metallurgical test work on samples returning much higher grades than anticipated and panning of RC chips in one hole producing more gold than lab assays reported for the same interval).