re: Ann: Zoroastrian Resource Increase and Up...
Dr Chen from Norton went to visit EXG last week. Blew his mind! Especially considering they are about to spend $35m and 12 mths to remove the overburden at enterprise. EXG has no pre strip at all.
Check out this quote from the Kalgoorlie miner today..
“The new equipment is starting to deliver on-site and we are starting the development at Enterprise,” he said. “We are looking around the area for possible development and acquisitions. “We are doing some business with other companies which is going to benefit both parties. We have a very efficient mill and an experienced management team. “We can have more deals with the companies who are close to us and can benefit them and our Paddington mill. It is part of our strategy to grow our business.”
“It provides a good platform for us during the period we are going to increase our production and reduce costs,” he said.
Deals with Phoenix Gold for 19,000oz from the Catherwood mine and 40,000oz from the Bullant gold mine with Kalgoorlie Mining Company also form part of Norton’s growth strategy. The company is also in negotiations with The company is also in negotiations with EXCELSIOR GOLD over its Kalgoorlie North project." Dr Chen said.
EXG Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held