Podcast2 Oct 2018 16:40
Pretty honest podcast, from a man on the ground in the Philippines, I thought.
Talking about extension of permitting with local organisations and also looking at old core from the Goldfield days, which has already been extracted and does not require drilling and its associated costs, in association with AMS. Much as they have done with AMS Mining Consultants on the Toral project at EUZ (where LR is also a senior Director). In other words, trying to increase the resource intelligently, without spending much money.
For me, the interesting thing about Mankayan (which is large enough to mine in its own right) is the close proximity of the "Far South East Resource", not very far away , which is owned jointly by Lepanto Mining & Goldfields. This asset is also undeveloped , and bigger than Mankayan. So anybody who bought both assets would have a World Class Copper/Gold Resource, with a possible mine life of 50-80 years. Not saying this is defo going to happen, but its something that the "Big Boys" will certainly b looking at.
Other point from the podcast is that the OPEX is very attractive over the 1st 5-10 years of the potential mining project, which makes it very attractive to potential Buyers/JV partners, as you aren't having to take out the Prime Grade immediately and then see a declining grade over the remaining mine life.
No doubt other matters will be discussed with local officials and potential partners in this "Site Visit". Who knows, some of these may even be a part of the site visit. Can't help thinking that Goldfields may also be a part of those discussions AGAIN - after all, they were the last ones to drill it and pretty much know what is there, if the necessary legal & political permissions can be obtained.
IMHO. DYOR. GLA.
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