Did to speak with Andrew this week and he seemed quietly confident on current drilling phase - in relation to potential gold deposits within the area they have Coongarrie 200,000oz - Menzies 100,000oz - Broad Arrow 600,000oz although we are located within a prospective belt there are several sides of the coin - and at present Halcyon are really only allocating about 20% focus on gold at the moment although they are in active discussions with two large players so they are still very keen on exploiting this resource - estimating extraction costs and cartage costs they can shoot for approx 200 - 250AU per oz so even a 25,000 - 50,000oz deposit would reap a good return in keeping with a low risk strategy . These results are quite plausible.
HCY
halcyon group ltd
