This end-run around capital expenditure allows Ausmex an accelerated series of milestones over the coming year. Updated JORC 2012 resources, including for the Golden Mile, are due shortly, followed by feasibility studies, and a mine reserves statement expected by February 2020.
‘‘All the infrastructure is in place, it will be contract mining and the open cuts there, there is gold on the floor of the open cut,’’ Morgan says.
‘‘So we are aiming for gold production by September 2020.’’
The intention is to open the floodgates on a river of cash that can fund ongoing exploration over the coming two or three years for what may be the real pay off from the Mount Freda project.
The exploration target – an educated stab at what lies beneath – was defined by Ausmex in September as somewhere between 19 and 30 million tonnes of ore with a grade of 1.7 to 3.4 grams per tonne.
The guys running AMG need the boot IMHO bunch of fools ....need some new blood with a clue maybe another miner can see the disgust from S/H's and make a scrip offer prob pick the lot up for 5c
AMG Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
