you are much nicer to our new friend than me. Perhaps for all...

you are much nicer to our new friend than me. Perhaps for all the new faces around here we will need to show a bit more patience, as you are correct, these low cost low grade bulk tonnage operations are not something aussies are familiar with.

High grade is great, but a mine is a business and it’s all about margins. Literally half the equation for margins is costs. Estelle will leverage very low costs to make great margins, even in times of low or average gold price. This will be made possible by:

-open pit
-extremely low strip, probably around 1:1, and at the early stages of pit development will be substantially less than 1:1.
- favourable regulatory and labour market, with open pit heap leach operations well known.
- established nearby production and industry
- heap leaching is know to be effective in these types of ores, and NVA has had fantastic recovery rates with preliminary tests. heap leaching is very low cost.
- ore sorting is looking promising for the arsenopyrite ore type at Estelle, which could be HUGE for economics
- an increase of resource, particularly at the higher end side of the economic grades, is almost a certainty.