Yes lot of patience here, guys behind it also have very good track record. Should come in well with good after market support.
Right time right place
Kaiser ground has possibly the densest group of historic gold mines in NSW with a close second being Cadia. Cadia is owned by Newcrest and is Australia’s largest gold mine and produces nearly 1 Million oz of gold per year. It is low grade at approximately 0.36 g/t gold and 0.25% Cu. Despite this, it’s all in costs are AUD$132/oz against the current gold price of ~AUD$2,150 per Oz. This is a fantastic margin.
Obviously finding another Cadia is a longshot but worth the effort.
The source of the 80+ gold mines around Stuart Town has not been determined but majors such as CRA who did the soil testing and MIM who defined very large intrusive target below the gold mines.
This region has now become very sought after and other groups, such as Magmatic (MAG) was trading at just 1c/share before Alkane (ALK) made a massive gold drill hit. MAG, which is near ALK and Kaiser, ran to 20c.
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