Hey mate, I’m a 6-8 year believer due to the fact of how much gold I believe is there.
My reasoning behind my comment is, I don’t believe this will be a 3/4Moz resource, IMHO I believe we will be looking at a 15Moz+ resource at least and even more as we get deeper. ‘The project will take time to understand where the ore bodies are and we aren’t talking about a small area either. I believe we will be looking at a plant of at least 1Mtpa, and producing between 250-300ozpa at least in a very low cost operation, similar to Fosterville.
The amount of SHALLOW Gold that was found in this area and recorded was 22Moz, there has been talk that they believe this figure to be a lot higher than this. This SHALLOW Gold had to come from somewhere, Fosterville is a good example, as the deeper they go the widths are become wider and still open further down. Again IMHO the area that CYL are targeting is better than Fosterville’s. We need to remember, Bendigo was one of the richest producers of gold in the world, and mostly SHALLOW gold.
We are only at the beginning so bringing a 10-15 year mine plan to the table will take some time due to how big and deep this will be.
All IMHO, but I believe the Victorian holdings will be one of the lowest cost, highest grades mines in the world, including one of the deepest.
GLTAH DYOR
CYL Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held
(20min delay)