exs news out - tas White Dam gold heap leach prelminary...

exs news out - tas White Dam gold heap leach prelminary financial modelling out. The thing I don't understand is why they are assuming recoveries of 75% when testwork says 85% plus? Anyone got any ideas?

Also they assume drill and blast from surface and say other mining methods may reduce costs. Any idea of likley improvements here?

Assumption of 85% rather than 75% would presumalbly increase cashflow surplus from $22 mill to about $32 mill.

Still $22 mill return for $2-3 mill capital investment is pretty good in anyones language.

From speakign to the company they sound positive on go ahead at Cloncurry re copper project.

As usual share price going nowhere.

Cheers
hots