SMM 12.5% 0.4¢ somerset minerals limited

BrieflyThey are drilling open pit and see some potential.Main...

  1. 3,972 Posts.


    Briefly

    They are drilling open pit and see some potential.

    Main focus will be undergound drilling due to start Sept.

    Inherited from IBR inefficient production plant, close down and start with appropiate mill when full nature of ore is known.

    Current process too expensive and just a cash burn. Will save in short term monthly outlays and cheaper capital costs overall by this strategy.

    Rest covered in ann of last week.

    Cheers
 
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