Blue Spec Fault Line, page-4

And for the record, refractory doesn’t mean ultra fine gold particles. The gold is actually “locked up” in the sulphides which need enormous heat, pressure (think auto claves) and acid to liberate the gold into a concentrate. The concentrate then needs to be sent off shore as the final methods to extract the gold require proceses that are illegal in Australia. You would be lucky to get 60% of gold credits for the con and that’s before marketing and capital costs. If you inserted that into a ROI assessment, it looks ugly. True payables realistically is about 15-20% of gold content so factor that into the mines grade and see it it still works.