watso could write more, but cannot be bothered to write too much...

watso could write more, but cannot be bothered to write too much - as becentaure has sort of covered it

anyway, in the threads, watso noticed the following

"True the pit has been mined however the mining methods of 20years ago left to-date 505,000 ounces in the ground, how many more ounces have they left behind?"

lol - the reason that x oz was left in the ground, had nothing to do with "mining methods", but rather that the strip ratio became too much.. wow - but if the pit is full of tailings, then this has to be removed (which really becomes part of the present day strip ratio), and then the company would have to do a massive cut back - before getting access to the ore

watso has mentioned igr, previously - but they got the old karonie gold mine, and tenements - and there was still a heap of ore that had been left behind (by the previous operators) - there was nothing wrong with the grade - except that the strip ratio became too much. igr, over the years, seemed to promise, that they could mount a mining operation, on the reserves, that had been left behind , by the previous operators.. that was never to be - but new discoveries have changed everything - and once they have the mill, up and running, then perhaps they could start to treat the ore , that had been left behind by the previous operators

.

punters should perhaps have a look at the progress of nav, who are toll treating ore, at the st barbara mill at leonora - as eventually, there will be some indication of any toll treating costs.

the market has this stock priced correctly. in general terms, the ground that axy has, should be compared to ground which is held by other companies in the district - which is ngf - because, in general, that is the way that the deposits will go - but somewhere, there will be another kundana, a white foil etc etc. watso was only looking at something the other day - and the exploration success that rsg, had in queensland, where a previous, mundane open pit, could have been nothing more than the tip, of a massive orebody, underneath


the hill 50 mine at mt magnet is an example of what could happen - originally, that was a piddly mine, but it was sitting on top of a massive deposit, underneath.

getting back to the Excelsior deposit - but that will be uneconomic (costs have escalated with the gold price), as it is.. however there is the chance, that there is a bit more. sadly 100 sq km, is nothing to excite the imagination - particularly, as it has been extensively explored in the past.

frankly - 5c is too much to pay for this stock

how many shares do the directors own??? - and have they paid "cold hard cash"