l attended Melbourne Preso today.
l had a decent chat with Steve and Luke before the presentation.
This is what l got out of them.
* 9 drill rigs on site. 7 at the historic mine and the other 2 at Governments Well and Kathleen Valley drilling 24 hours a day.
* 2 drill rigs drilling underground and a third one coming soon.
* Mine dewatering has stopped to a level deep enough for the development process. The remaining water will be pumped out in the future and be used in gold production process.
* Mine financing is in progress and narrowed down to 13 financial institutions. l believe this will be finalised and announced some time next quarter.
* Feasibility study 2 and resource upgrade next quarter.
* Regional exploration is not just for Gold. The company is aware the tenement is also prospective for nickel/copper sulphides and Lithium bearing pegmatites.
* Feasibility study 1 figures were conservative and in actual fact they are 20% better.
* As you all know Laboratories are very busy and there has been delays in receiving assays.
* Production end of 2022.
RRS Melbourne
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