Telfer's tailing dam problems continue. The first report of problems was back on 24 December 2023 with tailing dam TSF7. Processing stopped for about 2 months.
Now milling has been suspended again at Telfer since 14 April with issues at the newest tailings dam, TSF8. Media today report it could be out of action until September.
That's hardly going to help any sale.
In hindsight price told the story - what we weren't aware of.
If you look at the share charts for GGP and AZY, they both peaked in late December and been falling since. A bit of a recovery, probably when processing recommenced again at Telfer, and another turn down in mid-April with the latest development. The market seems to be connecting our prospects with what's happening with Telfer. It's time we separated ourselves from this.
AZY is a great explorer and with POG finally breaking upwards we should have enjoyed a good price uplift. We haven't.
Our Scoping Study (while early stage) confirms the Stand Alone potential for Minyari. A maiden resource for GEO-1 (1.3km from Minyari) is expected in coming months. Proving up a 10 year mine life with an increasing POG should make Minyari a compelling project.
I don't think we can continue to sit back and see what eventuates in the province (if that's what's been happening). We need to make our own future and the focus should be on us bringing Minyari to production. We should make that loud and clear that we are moving forward. Bring in a well-funded partner if need be, for the purpose of fast tracking progression.
And if down the track one of our neighbours or another entity makes us a compelling offer of some sort, so be it. But let's not sit around waiting in the meantime to see what happens in the province. Time to make our own way and to be seen to be doing so.
Just my thoughts.
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