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Ann: Update from Receivers and Managers, page-108

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Jonnyash

1,323 Posts.

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26/07/24

12:12

Post #: 74930463
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Originally posted by goldfan: ↑

I respect your opinion. The project didn't deliver (Spartan repeat?)

But don't you think that a producer with cash to put a good exploration program, increase resources and bring all projects together with gold at $3500 would make that work? Brand new plant, the only one in the region... not an easy project but there may be a lot more gold there.

I know grades were awful but not sure if the worst was over with strip ratios etc. Once again, I haven't done good research here for a while.

Sad reality is... current shareholders are not going to see that.

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My view is that receivers would have kept mining if there was an economic benefit to creditors. They wound it down pretty quick.

Any potential buyer would have to have a decent resource within trucking distance. Who would buy then hope they find gold...

CAI Price at posting: 11.5¢ Sentiment: None Disclosure: Not Held
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