Anybody else willing to take a stab at the MRE for Western...

Anybody else willing to take a stab at the MRE for Western Queen? My Guestimate thinking is ~200Koz @3.5g/t. That would then be very attractive to Gascoyne Resource's (GCY) Dalgaranga Mill, which is less than 50km's away and is where they have historically processed WQ ore. Adding 5% (137Kt) of WQ dirt (@~4g/t) to the Dalgaranga mix would potentially produce an extra ~13Koz of gold P.A. (+16% 2020 CY total) for the same milling costs. That is about AUD$29m in extra revenue at current POG of AUD$2227.


From GCY Presentation 13/03/2021





The next question then is, what would it be worth??? At $100 an ounce (Based on Theoretical ~200Koz) it would be ~$20m and at $200 an ounce it would be ~$40m. RMS did a takeover of SPX to acquire the Penny Deposit ( for roughly $585/oz). WQ doesn't have the consistency of high grade of Penny but a lot of the resource is open pit which is a lot cheaper to get to. Given the money spent proving up a bigger resource anything less than $100/oz is not really worth it. $150-250 an ounce would be a very good result though and would fund RTR for a couple of years of aggressive development/Exploration. A JV may also achieve the same outcome with less risk and initial outlay by GCY but more upside as well as risk for RTR.


https://s*******d.com.au/resources/gold-ramelius-launches-friendly-208m-takeover-offer-for-spectrum/

The ink had barely dried on the settlement between Spectrum Metals (ASX:SPX) and Venus Metals (ASX:VMC) before Ramelius Resources (ASX:RMS) made its move on Spectrum.

Under the cash and scrip deal, Ramelius is offering one of its shares for every 10 SPX shares and 1.7c per SPX share, which equates to about 15c per SPX share (or roughly $208m) — a 52 per cent premium to Spectrum’s last closing price of 9.9c on Friday.

Spectrum’s directors unanimously recommended the offer and indicated that they would accept the offer for all their shares.

The takeover adds the high-grade Penny West gold project in Western Australia to Ramelius’ portfolio, which the company says is in line with its goal of acquiring high-quality assets within a radius of existing production hubs without incurring significant on-site capital expenditure.

Penny West currently has a resource of 799,000 tonnes at 13.8 grams per tonne (g/t) gold, or 355,500 ounces of contained gold, and has further exploration potential at depth and along strike.

(from * 10/02/2020 with gold @~$1600USD)

IMO Western Queen is the asset that will provide the funds to allow Rumble to make a Tier 1 discovery and add to BK's other two AMEC prospector of the year awards.

GLTAH DYOR