bullish close, page-48

Ok, I'm here to argue but we were talking about Sweden and you said 1-3g/t is whats being mined economically.

I just could make the link between the Sewdish project which is underground and your grade range.

Anybody who reckons they are mining 1-3g/t underground and not burning cash is a lying dog and should be in another industry (tree planatations???? lol).

Those that are running open pit mines at around 1 g/t are usually the monster mines like Bodington etc.

Below 3 g/t and you need to have a good story if your ounces are smallish. GMR's good story is its sitting at surface with bugger all cover and is 10km from a toll treating outlet which is bloody lucky otherwise GMR would not be in there I would suggest. I would go as far to say that Craig would not have given it the due diligence tick had he first not checked with the 2 big miners down the track that they would be amiable to providing this service.

This low grade stuff will fund the exploration on the wider ground they hold. It will be self funding with little capex (keep in mind they inherited free of charge a pile of capital items when they took ownership of this baby too.