I think it's a smart move. While Kat Gap is relatively small in resource for ounces, it's a good way to start bringing in money and paying for other exploration activities and/or paying down debt. Minimising debt and bringing in a positive revenue source is one of the biggest boosters in share prices.Mining lease might not be as far away as you might think given it is a smaller sized site.
Current projections of 92,000 Oz at Kat Gap is $257,000,000(AUD) at the current Gold price. The cost of building a plant would run into the tens of millions of dollars.I think good things are on the way.
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- Ann: Update on Gekko Plant for Kat gap
Ann: Update on Gekko Plant for Kat gap, page-59
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