wake up call

How can this be ignored.....even in a slump? Todays Australian

"Alkane Resources (ALK) will move to a Definitive Feasibility Study of its Tomingley gold project in the central west of NSW. Geological assessment of a recent infill drill program at the Caloma prospect identified a potential 190,000 ounces to add to a JORC resource for the Wyoming prospect of 7.13 million tonnes grading 2.7 grams of gold per tonne for 606,400 ounces. Caloma is about 500m to the west of Wyoming and improves the strike length to about 4km.

Alkane believes the combined deposits could support a one-million tonne per annum open-pit operation to produce 70,000 ounces a year over at least a four-year mine life. Initial cost estimates in December last year suggested a capital cost of $40 million, but that is expected to have moved higher because of escalated mining input costs. "