BAGM,Your figures could be correct at this early stage of only a...

BAGM,

Your figures could be correct at this early stage of only a 1.4mln ozs resource at 1.7g/t. I don't profess to be an expert in the mining game. Never have.

However, "Economies of Scale" will play an important factor. As you would know the aim is to increase both the resource and grade over time. Thats right over time.
Lewis & Alter have made it very clear they are in it for the longhaul.

So far they have done very well in a short space of time.
They have maintained that they will be looking at a minimum of 2mln ozs and hopefully a higher grade.
IMO they would already have a good idea of the type of Capex costs involved.

Just in regard to building a stand alone plant.
If you look into the background of Lewis, IMO thats precisely what they will be doing. They knew what they were investing into 12 mths before KAL even bought the tenements. They have also made it clear that it will take at least two years.

We don't know where the Gold price nore the energy costs for that matter will be in two years time. However, they have a good chance of both being alot higher by then.
6 mths time should give us a much clearer picture on the feasability of the Norseman project and where KAL are heading.

Still early days.

By all means put a "Sell" on it.

Thats your call.

It doesn't concern me one way or the other.
I will stick to my original plan which was why i bought in the first place.

Management comes first IMO.
The Lewis/Alter factor makes all the difference.




Cheers markco2