"Exploration expenditure expensed at $20.8 million for the year is a continuation of Oxiana’s significant commitment to an ongoing exploration and resource development program. The amount expensed represents that expenditure which has not yet led to the definition of a Resource, and is therefore expensed according to Oxiana’s accounting policy. The Group is exploring for base and precious metals in Australia, Laos, China, Thailand, Indonesia and Cambodia, as well as maintaining extensive near mine exploration program around existing resources at Sepon, Golden Grove and Prominent Hill."
$20.8 million for ALL it's existing operation, and for new exploration in SIX countries....
The Beverley Four Mile tenement ALONE will have $14 million spent on exploration.
A point raised here already, but I thought I would seek to illustrate for the knockers here the level of expenditure that General Atomics, a private company, is going to spend here. Private companies aren't in the habit of throwing money around either....must be something worthwhile here eh?
As Trader10 mentioned previously show us any Australian company which will be spending that kind of money on any one tenement.
I'll bet no one can.
AGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
