Golden Horse Minerals could be a candidate to help fill the processing plant at the Edna May gold mine that Forrestania Resources is acquiring from Ramelius Resources, suggests Euroz Hartleys. Edna May has been on care and maintenance since March last year. It prompts analyst Michael Scantlebury to ask how Forrestania will fill Edna May's processing plant, which has an annual capacity of 2.9 million tons of ore. Euroz Hartleys says Golden Horse Minerals' Hopes Hill deposit looks to be around 1 million oz, citing a grade of 1.5 grams of gold per ton of ore. This "could support seven years of mine life at Edna May, producing more than 100,000 oz per annum at 1.2g/ton (applying dilution) and 90% recoveries," says Euroz Hartleys, which rates Golden Horse Minerals a speculative buy. (david.winning@wsj.com; @dwinningWSJ)
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Golden Horse Minerals Could Help Fill Edna May Plant — Market Talk
Golden Horse Minerals could be a candidate to help fill the processing plant at the Edna May gold mine that Forrestania Resources is acquiring from Ramelius Resources, suggests Euroz Hartleys. Edna May has been on care and maintenance since March last year. It prompts analyst Michael Scantlebury to…