CHN chart, page-9048

Key takeouts from this....

Gonneville on the other hand could sit comfortably in the second quartile, meaning it could make money even at the six-year low in prices.

As metal prices inevitably improve in response to sanctions/closures impacting current producers (palladium), and sheer demand growth (nickel), Gonneville will be cranked up to a level that better matches its Tier 1 resource size.

Japan’s Mitsubishi Corp is focussed on that sort of medium to longer term scenario. It signed a non-binding strategic MOU with Chalice in July. While non-binding, the intent is to formalise a potential partnership post the release of the PFS.

Gonneville was a breakthrough discovery on the western side of the Yilgarn Craton. Now Chalice is having a shot achieving the same at Barrabarra project up north and some 80km east of Geraldton.

“The target style is orogenic gold, or classic goldfields, but also intrusion hosted systems like Boddington (Newmont’s 40M oz gold deposit in the Darling Ranges down south),” Dorsch told the RRS Gold Coast conference.“You can imagine one hint of gold mineralisation in this area would totally rewrite or totally revolutionise the geological understanding of the West Yilgarn. And that's exactly what we did when we drilled the first hole in Gonneville.”Drilling of the first of the targets is planned for the December quarter.