super news that Vango has found a mutual fund ready to enter mining business. From economic perspective of lowest mining costs, starting with Parrot open pit and adjacent Rosella open pit which are in tenement M52/258 make lots of sense since these pits are closest to the mill at Plutonic where Vango must toll mill their 50% of Parrot/rosella gold ore. Other advantages of Parrot are that contract miners have less travel time from camp at Plutonic to Parrot to get to work than to K2 so productivity be higher, ditto for transportation costs since less distance to be covered by trucks pulling trailers perhaps 2x to 3x round trips can be made, hauling 2x to 3x ore while burning same amout of diesel. Also Superior $3mm capex could go toward haul road improvements, additional drilling and prestripping overburden so potentially Superior CAPEX investment be enough to bring Parrot and Rosella into production so mutual fund only need to lend Vango enough money to cover Vango costs for mining, transportation, and toll milling its 50% share of Parrot/rosella ore, after which point vango see some revenue by selling its 50% share of gold Dore to the perth mint.
VAN Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
