Must be some announcements coming soon (read: I would like something to come out soon.). In no particular order:
Update on plant refurb....
Last we heard they were at 60% completion and still on budget and on time. Plant to be commissioned in December with first pour in January. I hope they are still on track with commissioning (Dec only 2 weeks away, but I expect will be end of Dec)
Update on continuation of exploration...
They were waiting on the wet season to end and the roads to re harden. Would be interesting whether they are going to go straight to elephant hunting or they will stick with incremental upgrades (I'm hoping for the former). They have stated they are aftere a 10m oz resource - GO!! JORC currently stands at 1.47m ounces contained gold (indicated @ 0.69m ounces).
Update on upgrade to plant...
They were looking at doing a feasibility study to increase the CIL plant capacity to 700kt/a from 350kt/a. I think it was at a cost of $3m-$4m USD. Would like to think they are progessing this to the next stage.
Update on Costs...
I believe when pushed they stated that costs were in thge order of $600 - $700 per ounce but were reticent to provide anything to formal as they believed the market needed guidance within a small percentage of error (very prudent I think). Would be good to get further guidance on this and alleviate any concerns about cost blow out.
Update on Manganese...
I think this is on the bank burner whilst they attemt to upgrade their gold head grades but I for one am chomping at the bit to understand this abit more. Is it a furphy or something that could add considerable value? Not sure yet.
Environmental Approval...
Did they get this and I just missed it? If not would be good to know that its all done.
I still believe this is massively undervalued and is flying below the radar, but once we hit a higher high we will be noticed!
Good Luck All
Maddoc
SBL Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
