Just a few points to provide a counterbalance.
The vast majority of ounces contained in the Jorc lie deep within the bowels of the old girl. Think level 17 down. The shaft is refurbished down to level9 and dewatered to there as well.
So accessing those ounces will cost a lot and be restrained by shaft haulage from such depths. There is an old annual report from around 2006 where the last page is a schematic of the drill hits down there. Red dots were assays above 40g/t, I counted a couple of hundred at least..
So rich, yes but at what cost and how many ounces per annum with the current shaft haulage setup.
If you read all the old books and visit the area its easy to fall for the romance of high grade quartz veins and the supposed mined grades. When you see neatly stacked piles of waste underground you realise that a lot of hand sorting took place and with low wages and no OH&S a profit could be returned. None of the mines in the tenements returned a high number of ounces per annum.
Sure I believe there's a big one somewhere there but many have tried, over decades, at the cost of tens of millions for not much at all. It is an inhospitable environment and access to drill pads etc is costly.
I could go on but will leave with a word of caution regarding vertigo. He has faithfully held MNM/AUL through multiple exploration plays and board changes and cap raises. He supports management ( whatever management at the time) and has no peer at putting lipstick on the pig. Listen to what he says but have a close look before falling for his shtick.
WRM Price at posting:
51.0¢ Sentiment: None Disclosure: Not Held
