AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Cammo, that's interesting. I was told by one GEL senior staff member posted down there, that the winter rain was unseasonably massive, and that was part of the bad luck at the site. He'd mentioned the big brake repairs, not the price of them. He never mentioned unmetalled roading. I assumed it was impractical to build better roading, sounds like they didn't even try. But it wasn't all the fault of the roading. Apparently one dump truck driver tipped his vehicle over five times before he was let go. Most driving staff learnt after the first time.

Let's do some numbers on the cost of six brake jobs, a total of $300,000 of maintenance. Each dump truck could hold about $200 of gold per load at the wash grade they found. So they'd need to extract 1500 truckloads of wash at zero cost (and that didn't happen) just to pay off the brake repairs. Ouch, that's a great way to use up shareholders' cash.

Waikaia Gold's plant in Southland has been opened by Bill English. It's using a floating GRU fed by a digger. The GRU is already down in a deep hole in a pond. 5 years of planning. This is more likely to work out OK.

http://www.odt.co.nz/regions/north-o...icially-opened