re: have you got your fix?hc problems!
post from UB:
uraniumbull
Posted: Monday 01/05/06 10:24pm Report Post Quote Post
In reply to: deeplode on Monday 01/05/06 06:48pm
Hi deeplode, My understanding of the drilling around Maldon, is that they have been trying to work out the geology for the decline. I could be wrong on this but that was my understanding. Contractors will be used to dig the decline. So by providing drill cores the contractors will have a better idea of what they will be tackling. This should lead to the contractors being better able to predict the cost of the decline and hopefully won't have the need to add too much of a fudge factor to the quoted price.
So $300K spent on drilling is likely to Lead to $500K-$1M saved on the decline and might actually find some gold too.
A lot of people have bagged the Maldon Project. However Ian Gandel is rumoured to have bought in, because of the money already sunk. The millions historically wasted at Maldon, ironically was why Gandel bought in.
From everything I have learnt about Maldon it is a very worthwhile project indeed. Its not without its risks. With a backdrop of higher gold prices and the excellent team at Gandel Metals, I am certain they understand fully the risks and rewards of this project.
The Rewards are high! I feel the risk at Maldon is a great deal smaller.
AGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
