What gets me is if you look at reasons for DAU's decision per the extract below from their ASX release on this to farm out Placer Dome is the same very challenges ORD will have to fund the development. What am I missing?
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Over the last twelve months we have continued to enhance our knowledge of the
Plutonic Dome undertaking significant soil geochemical surveys and modest levels of
drilling. The major advance for the year was the development and initial evaluation of a
cutting edge 3D prospectivity model for the whole belt integrating all the available
geological, geophysical and geochemical information, including the Barrick Plutonic
database. Analysis of the characteristics of known local deposits with similar untested or
inadequately tested geological settings has defined several high priority new target
zones with the potential to act as traps to host large mineralised systems. Adequate
testing of these zones will require significant financial resources.
So, the challenge we face with our ground is that the near surface large targets have
been tested and the deeper targets are expensive to evaluate. We also have an annual
expenditure commitment of in excess of $3 million to keep our ground in good standing.
Meeting this funding commitment, without unduly diluting the interests of our
shareholders is a major challenge for a junior resource company in these times.
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