Are you referring to when the mine was operated by wmc, when gold was tens of dollars an ounce? Or are you referring to when the mine was operated (a generous word) by mco, when gold was a couple hundred dollars less than it is now?
New management have completed a very thorough geological re-interpretation of structural controls at Morningstar, and out of that identified, drilled and are now trial mining Stacpoole’s reef.
Look at the diagrams, Stacpoole is not very deep. But it is very long and continuous. And shortly we will find out how rich the reef.
There is also Rose of Denmark. Close to the surface, high grade walk up trial mining targets.
Unless Stacpoole’s reef is outrageously profitable imo there will be some cr in the future. But from this point on in the company’s history any cr will be about expanding mine development, plant capacity, or third/fourth mine development.
All developments that will either raise gold production or reduce mining costs.
AUL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
