good news.... for b2 Hi B2 - I am quietly confident SMC will end up with a major resource. It has moved around a lot - firstly all the exceptionally high grade intersections at Explorer - which broadened at depth -then the stunning Danielle and at least 13 km of high grade epithermal veins to test - now back to Soapspar which looks really gutsy. I have commented before they are like a kid in a lolly shop -they don't know where to drill next !
They are going to need the exploration funds- the gold market needs to be favourable for further capital raisings and they still need an ounce of luck -but I really can't see how Woolgar won't eventually be a major mining centre -even if it ends up that there are a number of specific ore bodies. I await a native title agreement on my ground adjoining -which has about 14 old mines that have never had a drill in the ground. And I note PNN bought a small mining lease north of Soapspar which was in their prospectus.
I did not realise BMO had no grid power -but I presume they will have at the Charters Towers mill. Would be no problem at the mine but if you are referring to the CIP plant then I guess that would be a bit costly. Nevertheless the grade is so high they should make a mint notwithstanding transportation etc. I guess they will report cash costs in due course.
You are right on the ball with the exploration upside - I have not got my message through to any geologists yet -mostly too busy - so you are way ahead of the pack in recognising the additional potential of more breccia pipes along the east west fault -which controls mineralisation. In terms of BMO I hope/expect their regional drilling will turn up another A309 or Lone Sister.Or large lower grade sandstone hosted gold systems. In terms of myself I have a 170 sq km EPM to the east on the fault -in the same geology -within 1.5 km of A309 and about 3-4 km from Lone Sister.
No approaches yet from Jim Wall -might put it in a new gold float -or the mountain might come to Mohammad !!
Cheers
TT
- Forums
- ASX - By Stock
- SMC
- *** not good news....
*** not good news.... , page-4
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SMC (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
Previous Video
Next Video
SPONSORED BY The Market Online