Just saw the results from Maldon-pretty average to say the least! It works out at 0.3 grams per tonne. Heron put the average grade at 0.8 g/t before they pulled out and the drivers got fired so they weren't far off. What a serious waste of money! There was 2kg of gold recovered yet no addition to the sales section of the financials so I guess (IMO) this all got spent on milling. So much for the quoted grade by the directors! I hope it gets better-that's for sure. And I hope it gets better before they spend more money on transport/milling. And they are tearing up nearly $800K a month. At this rate they will run out of money if they do any drilling before they get to target-doesn't sound good.....in fact it sounds very Victorian!
There's an old mill saying that goes something like this-we can get all the gold out using various methods, but we can't put gold in.
AYC Price at posting:
26.4¢ Sentiment: Sell Disclosure: Held
