Well - everyone wants to know what LionGold are up to, eh?Just...

Well - everyone wants to know what LionGold are up to, eh?

Just putting their foot on another gold play I suspect. I wouldnt expect a TO in the short term for either CitiGold or UML.. the former has wildy inflamed resources with a probably low conversion rate to Reserves, and although Henty is ticking along nicely UML is not showing signs of a major discovery or significant addition to their resources/reserves position. UML Exploration?... opposite for while as capital development at Dargues happens across 2013 & 14 and henty is drilled/developed from underground.

I think LionGold know that Dargues is a hard get (engineering wise more than geology wise) and could push UML to the 'Capital wall', at which time they could opportunistically take out UML for the Henty value and ship Dargues Au-concentrate to the ballarat cyanide leach plant.

Bothered if I know what LG would value the Bendigo plant and operation for? They have a lot of ex-Bendigo Mining staff at the Ballarat mine (GM, chied-Geo, Admin Mgr, miners, geos) but they were the staff that too part in its close in 2011 so they would have to have a very different exploration bent now to take on the project??

Maybe if the UML Bendigo assets were put together with the Catayst (CYL) or Navarre (NML) exploration projects which could go big open pit potentially there is a valid exploration-mining play... but thats still speculative, and early days.

I percieve that the LG strategy has some more to do with crystalising their big Singapore Listed market cap into cash, which once washed around numerous ASX Co.s could later be rationalised to purchase one of them for added ounces of real production. Watch that space I guess.

wierd times for gold players