the advance of technology allow the new ultra low cost operation possible through:
1, new technology allow better pinpoint where the gold is and drill small hole to where the gold is, this will greatly reduce the cost by improving the strip ratio.
2. using automatic electric conveying system to bring ore rock to the ground, reduce cost by avoiding diesel machinery and improve the health of miners.
3, in the future, automatic machinery to mine the gold, but this is not in the initial phase though.
i am with engineering backgroud and all these make sense to me.
i guess the real issue here with many sceptics are the ''Trust' with the management, there is rooms to improve for the managment in that aspect, but there is no doubt that advance of modern technology does improve things, and if you make a loss before, why not just buy back the share and enjoy the rise in the next 10 years to come.
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- Wake up! 11m oz high grade gold, with only MC of 36M, there will be 100 times potential
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citigold corporation limited
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