the key words in today's announcement, missed by most it seems.....
"It can reasonably be concluded that there is every chance that economic mineralisation extractable by open pit means is continuous over the extended strike length tested by these drill holes. A more detailed follow up drilling programme, scheduled to commence in the last quarter of calendar 2008 when production operations at the mine have settled down, will be used to confirm this hypothesis."
It would appear to me based on current price for moly and tungsten that many, if not all (without doing the hard number crunching) are very economic.
QOL state in that presentation referred to by Mrs Peel that 0.42% WO3 and 0.17% MoS2 represents about USD170/tonne or the equivalent of 7.7 g/t of GOLD (priced back then mind you) at 250/mtu for wolframite and 32/lb for moly (prices of each are now higher).
All this in a shallow open pit. Money for jam?
QOL
queensland ores limited
the key words in today's announcement, missed by most it...
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