MEU 5.26% 4.0¢ marmota limited

JORC Aurora Tank, page-29

  1. 2,476 Posts.
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    Reasonable thought Sowens. And that reminds me of the Carrapateena discovery. In 2003 Rudy Gomez's time as an private explorer/metallurgist was running out. After using his own savings and superannuation funds he was now running out of money and despite his belief that he was onto something he could not attract financial support from mining companies to assist with funding. In 2005 the SA Government (bless them) provided a grant and two friends provided a further $80k to support one last drilling campaign. Availability of rill rigs was now the problem but eventually he found a driller specialising in water bores. The rest is history when after taking the core samples home to his own lab he found "beautiful blue copper". Teck (Canada) won the bidding war but later on-sold it to Oz minerals who eventually commenced the decline in 2016 - 11 years after the discovery. Rudy, his friends and the driller all became multimillionaires. It was copper not gold or uranium but it is the story that is relevant to Aurora Tank and Junction Dam.

    Explorer Mark Creasey has done pretty well too!

    So you surely don't have to actually mine what you find to make a lot of money.

    Albeit that Marmota remain as an explorer to this stage of their history and will soon probably be moving towards a bankable feasibility plan. This then will be the time when Colin will be looking for funds from the market, banks or from a cashed up mining company. Our time is not running out!

    https://adelaideaz.com/articles/rudy-gomez-s-faith-in-south-australia-s-deep-minerals-riches-pays-off-in-2005-with-carrapateena-copper-find

    https://en.wikipedia.org/wiki/Carrapateena_mine
    Last edited by roboshan: 11/07/24
 
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