This looks like a great deal for UML shareholders - well done board - look forward to further updates. Cannot quite follow some of the comments here - UML offering 0.73 shares for each CRC shares and they have only 268M on issue.
With respect to activity at Henty so far this quarter - the following was IMO quite clear and positive with respect to managing this asset!
Andrew McIlwain, Managing Director & CEO commented “Whilst there have been some production challenges at Henty with the delayed commencement of the Darwin South 1685 stope, a focus on the access development to the high grade Read Zone during the quarter has enabled us to schedule first ore from Read in October, six months earlier than originally planned. Following last month’s Resources & Reserve update in which we outlined an initial Read Zone resource of 28,000 ounces grading 12.5 g/t gold, further drilling has confirmed the high grade nature of the Read mineralisation, with down hole intercepts of 3.0 m at
23.6 g/t and 1.9 m at 22.4 g/t gold received last week.
“Importantly, the first access into Read will be adjacent to an earlier drill intersection which returned 6.4m @ 98.7g/t. A consequence has been a re-timing of production, with September quarter expected to be below run-rate, while subsequent quarters are planned to be above run-rate as ore from the Read Zone comes on line, significantly increasing the average head grade. We remain committed to delivering against our fullyear guidance of 45-55,000 ounces of gold production this financial year.
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