why cr or jv?, page-6

Here is an old post i did.Before the significant resource upgrades of WR and Young Australian,which did come up trumps.

Posted: 18/06/10 13:40

In todays market i think a realistic price is $1+. My reasons for the optimism are below. My thoughts only.

I believe QMN are attempting to get a funding partner for the White Range Project. When this happens we will have -

Stage 1, Kuridala (and possibly Young Australian)
Young Australian doesn't have a JORC resource but it is anticipated to be significant and would increase this reserve if it is included in Stage 1. These leases are still being upgraded as we speak.
Kuridala has 60,000 t of copper so thats 5-10,000 t of copper for 10 years.If just mining the copper, conservatively, that would realize 20-30 million bucks per year profit (after costs including the funding partner costs). This excludes gold credits of 49,000 oz at Kuridala which would conservatively be another 3-5 million bucks per year.

Stage 2 would obviously include Greenmount and others.

If we can get enough at Flamingo, sell the ore to someone like Xstrata or Eloise! At the same time, look to increase resources at Greenmount, Mt McCabe and the other areas.

Also target the IOCG greenfields stuff like Jessievale, Morris Creek and we have 5 targets on the Matrix tenements.

Short term concentrating on re-starting Mt Freda and Gilded Rose as a priority These have low start up cost and we could produce in 5-6 weeks making around 10-15m at todays gold price