Re the gold estimates for 2015 and forwards, it will probably not be necessary to truck all the input for the 2.5m ton plant from the deposits 100k further south.
It looks like they intend to mine the (already shafted?) deposits underground. This should result in a much better average grade and less overburden haulage and so they probably hope to better 2g/ton. By doing this the plant can be run up to full capacity.
Dont know how the grades were so low during the Reed administration period. Could have been some knocked off by employees I wonder?
My simple calcs come up with 150-170k ozs from this operation pa once up and running. A new team will be required. It probably will not be a full years worth in 2015. It should be profitable enough for a rapid payoff/payback on the investment. Depending on the gold price they may not need to access bank finance to get Rover1 up and running further down the track.
Some new technological changes in the pipeline suggest (see my prev post) that prices for bismuth could be very attractive. Rover has quite a bit of it. It also provides a further derisking by including more commodities in the mix.
Sounds like the refurbished plant will need some tuning.
MLX Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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