All in drilling costs these days are approximately $100/m for RC and $200/m for diamond - including all the additional costs companies don't really mention - fuel, contractor FIFO flight costs etc. So if you average $150/m then you're looking at $15million for 100km of drilling (the drill core would stretch the length of Perth!) Might get a discount on volume?
Plus assays, plus staffing to log, sample, cut core and transport the samples, FIFO costs to Hedland are not cheap, very large camp, earth moving contractors etc. Hard to understate the scale and cost of an endeavor like this.
Looks like the thickest and best pegmatites are also quite deep below 200m on the sections to date, and drilling costs generally increase with depth.
Probably looking north of $25 million for all of this. But would be worthwhile if the results stack up and they can increase the grade a smidge. Would be nice to see an average of 1.2%-1.3% Li2O. Wishing them the best of luck. It's a mammoth undertaking and hopefully it's completed safely.
WC8 Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
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