my responce from cc, page-11

Stillthefoxhat, their main asset is the Daisy Milano underground mine at Mt Monger. The medium-term strategy is to produce 60,000oz annually from three lodes (Daisy Milano, Daisy East and one other... probably Haoma or Rosemary... from the same decline). 20,000 oz from open pits gets production to 200,000oz

$629/oz cash operating cost last quarter (including royalties) for ore production of 22k oz. Operating costs in FY12 forecast to drop to $575/oz on higher production (140,000 oz), FY13 $550/oz (150,000 oz) and FY14 $520/oz (200,000 oz). Then add $200-250/oz for development.

http://www.asx.com.au/asxpdf/20110502/pdf/41ydbgb2vhjzwl.pdf

SLR had the advantage of buying an existing mine with most of the infrastructure in place... and applying the UG skills of CEO Les Davis acquired at WMC. They've had a lot of exploration success.

They will release their feasibility study for their second project, Murchison, later this year. The scope includes a mix of 14 open pits and 4 underground sources - and it's the underground details which will be interesting applying/comparing to IGR situation


Rowingboat