I was pleased to see they are investigating a shaft.
For myself the next question was 'where to put it'.
Perhaps above the edge of known area of 'potential reserve' which has the possibility of extension in a given direction.
This would allow the shaft to assist in:
extension of the 'potential area' in a given direction, exploration underneath the 'potential area', upgrading of the 'potential area' through infill drilling, and transformation of the exploration shaft into a ventilation shaft 'if and when' the underground mine becomes operational .
Before a decision to 'mine' the cost of the shaft must be offset by the reduced cost of drilling through the overburden. It may be necessary to commence (a guess) of 40 holes from the bottom of the shaft. This would save (a guess) about 16 Km of drilling through the overburden.
Once there is a decision to mine then (hey presto) they already have a vent shaft. No doubt the OZL engineers are on top of this scenario. Thanks for your quarterly report appraisal. HC42
OZL Price at posting:
$11.30 Sentiment: None Disclosure: Held
