"Why remain an explorer? They have proven gold resources?Why not...

"Why remain an explorer? They have proven gold resources?
Why not pull their fingers out, pour gold on a small scale, pay their way.....and grow out of profits?"

Remaining an explorer for the present time .........This would be the worst case scenario (apart fom going under) if things go sour....e.g. gold price drops, Rudd gets the RSPT through, cant get even enough funds to get a small gold processing operation going etc. Remember the worst mistake a junior can make is starting a project under capitalised. Once they have some debt and hedging there is no return if things go wrong.

Playing safe (if investment conditions sour) and delaying project start up and getting the resource up well over a million oz or two (and remaining debt free) would be always an option.

Like you suggest GZ - Going just for gold from the Kundip open cuts and shallow Trilogy oxides could be a plan A in any case. I am am certainly not against that option....lets wait till we see the Feasibility Study!

I think if gold contunually goes up higher we may well see some fast tracking into production - pitty a large scale toll treatment option is not nearby.

I have been following JML ever since they became Cornerstone investors and indicated a willingness to underwrite fully of partially Phillips River. So I have been watching their cash position inparticular. I guess their current focus is more on getting Bently up and running but I am sure they have a more significant interest in Tectonic further down the track.