Arruwurra has high grade DSO at depths of 8-10 metres. That was noted a long time ago. The 50 metre depths are factored in to the cost of mining for the establishment of the mines and are not a major issue. Larger areas are at 22m deep and DSO quality.
This is still an open quarry type of operation and the price of the underlying rock is what will move it. The economics stack up very well and the operation of the mine has been well examined after 3 years of planning. The dollars are the last block to fall into place. Remember, this is fully planned, approved and shovel ready. The DSO operation can commence on $70-80 mil CAPEX and be profitable immediately.
Corn is once again at record highs of $7.70. Soybeans have broken out of their trading range and are now in the $14 area. The food story is building nicely. All bets are off once the Indians sign on.
Arruwurra has high grade DSO at depths of 8-10 metres. That was...
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