It is all a bit confusing, to me.
Consultants report, on page on page 68, shows a 2016 JORC as a mixture of meaured, indicated and inferred.I am no expert, so a knowlegable interpretation would be welcome. 186,000 ounces.
The cost of upgrade or costs associated with getting the mill to a producing satge is not clear in the announcements.
What is the 8-9 M to be spent on? Announcements show that they are recovering gold, but implication is that further refinement is needed.
Scoping study? They do need to design the mine. Combination of open pit and tunnel?
Looking at the announcements in total, my impression is that they are close to producing concentrate which will be shipped to Melbourne.
DDD also have a defined resource of about 186,000 ounces in the measured, indicated and inferred catergory.
Next step is to get those drilling results for challenger and also get an idea of the prospectivity of the southern zone.
I fully appreciate that this is a junior miner, who is trying to succeed where others have failed. Pleanty of unknowns on the path to profitability.
As a side question, how did those miners extract gold using, what is now, very crude and labour intensive techniques?
Did they only extract a fraction of the total gold during crushing, milling and seperation?
Thoughts?
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