As much as I love the Kalgoorlie story, Korea is still my main...

As much as I love the Kalgoorlie story, Korea is still my main area of interest. I won't get into the geopolitical discussion that's been 'flogged to death', enough lately. However, it does remind me of that MAD, mutually assured destruction, meme of the Cold War. Lots of sabre rattling and no side really wanting to start off a hot war, possibly escalating to some form of MAD. Let's hope not anyway.

Excluding the worst case of nuclear annihilation, Korea still looks great. I reckon we've probably got Colin Patterson assembling a mixed team of Korean and Phillipino underground miners and engineers to 'suss out' Taechang and ***ong atm. Taechang access looks "easy as" and the in-situ Quartz veins, already sighted, represent an early mining opportunity.

***ong's main adit has been filled in with rocks. After the team clears this away, there's a huge array of tunnels to explore. Obviously Vein 6 is of most interest, however, they're bound to find heaps more veins in there.

Weolyu had a couple more rock slab photos in the last announcement. There must be close to 1000 g/t silver in those slabs. That's equivalent to finding an extra gram and a half Au per tonne on top of whatever gold they find. And this is just surface stuff. With the proven North and South Weolyu mineralised systems, probably part of a much bigger system, the distance between the sites implies a very large district scale low sulphidation epithermal system. This could be and I think it will be, a truly a world class discovery.

Kochang is going to be great too. Nice comment about very long veins being mapped in recent announcement.

If the Korean Won goes down against Gold and/or the AUD, it's going to make an already cheap place to mine, even cheaper. A weaker won could easily happen, as a result of weak worldwide economic conditions (lower car, phone, equipment sales) or ongoing regional tensions. Capex for mining and milling could become cheaper. Drilling is probably as cheap as anywhere, too.

Korean labour is very cheap by Australian standards. The Phillipines guys, far more qualified to UG mine, will certainly be even cheaper. It's very possible that these mines could have incredibly low AISC of production and if grades are 10, 20 or 30 g/t with silver credits. Most of this can be banked with low actual costs and good Ag credits to offset those costs.

I enjoy that most of the chatter lately had been about Kalgoorlie. This region has the potential of a mid cap company maker, in its own right. Korea's worst case (actually, make that a second worst case) is a solid revenue stream for Oz project development. Best case could make SAU into something that resembles Evolution Mining (in terms of annual production of gold and silver), IMO. This might seem a little far fetched and is, admittedly all crude speculation. The region has quite a few multi Moz deposits, so why not get excited? Anyway, I've got my money where my mouth is. Good luck to all!