Hi Elpha Mate in these dark times your rationale is much...

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rayw

18 Posts.

23/09/14

21:20

Post #: 14017656
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Originally posted by elphamale ↑

Barney,

Of course there's a way back from here. The path was set months ago. It has not changed.
Although the company appears to have strayed off into the corporate Never Never, the path remains for Dermott and co. to follow. However they need to tick the necessary boxes from here on in as we've wasted enough time already. Here they are in point format.

1. Raise enough capital via a JV/strategic partner/CR. I'd suggest minimum $20million required to comfortably complete the next steps (IMO). If you don't think this is possible in the current market, refer to OBS announcement earlier today.
2. Start and complete the adit.
3. Drill out the high grade zones and announce the results (targeting an additional 500koz at @10g/t for a total high grade target of 1mil ozs @10g/t.)
4. Decision to mine: Feasibility study, mining lease application (including LIR), project finance.

Once those boxes have been ticked then it's go time. i.e. mine and plant construction, then 200,000oz per year production @10g/t from 2016.

Remember that's it's always darkest before the dawn.

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Hi Elpha
Mate in these dark times your rationale is much appreciated. My greatest concern is the company's ability to raise funds. Could you direct me to "OBS announcement"
Thanks Ray W

IDC Price at posting: 1.9¢ Sentiment: None Disclosure: Unspecified
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Hi Elpha Mate in these dark times your rationale is much...

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