Guys FYI. Our not too distant neighbour.Extract of today's date...

Guys FYI. Our not too distant neighbour.

Extract of today's date from a PNG online article.
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A gold deposit in Papua New Guinea seems to be so rich that the explorers say they need more time to investigate.

Newcrest Mining has extended the pre-feasibility phase of its 50 per cent owned Wafi-Golpu operation, in the east, inland from Lae.
The latest PNG resource will need start-up capital of $3 billion to $4 billion to get production under way in 2017. 

It is expected to produce between 600,000 to 800,000 ounces of gold, with up to half a million tonnes of copper.
Chief executive Greg Robinson informed investors the exploration of the massive Wafi-Golpu deposit has been so successful the company needs more time to asess the best mine location.
"So we feel its prudent to continue with another three to six months of heavy exploration work around Golpu," he said.
Greg Robinson says Golpu will be in the lower cost range once gold production starts.
On Monday, Newcrest announced a better than expected full year profit of more than $AU900 million, prompting the company to announce a special dividend of 20 cents per share.
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This is exciting news showing the the rich opportunites available in the region.

Go Marengo !!