stockmaster where is the discussion from

Howard has sent a high-level delegation to Papua New Guinea to inspect the site where Gold Coast-based company Frontier Resources plans to extract an estimated $1.3 billion worth of gold.įrontier has warned against 'foreign government intervention' in the proposal to mine gold and copper along the 96km track over the Owen Stanley ranges, where more than 600 Australian soldiers died during World War II.īut Howard said Australia would not sit idly by while the future of the site was determined. Prime Minister John Howard has vowed to do all he can to stop gold mining along the Kokoda Track and protect a site precious to Australia's history and national identity.

Things aren't looking good for this company! Veterans Affairs Minister Bruce Billson 'has been informed by Frontier Resources that the exploration drilling will be low impact, will take place one to five kilometres east of the Kokoda Track and that none of the activity will affect the track itself.'ĭespite these assurances, the Australian High Commission in Port Moresby is looking into the details of the exploration licence.īillson's spokesman stressed that the issue of exploration and mining licences were the sovereign right of the PNG government. The Australian Labor Party wants the government to make sure the route is not damaged by exploration by Australian miner Frontier Resources which has acquired the rights to gold and copper deposits that take in the famous route. The 96km trail, in the remote highlands of Papua New Guinea (PNG), was the scene of one of Australia's most famous campaigns against the Japanese during World War II. Stop has shown us all why thorough research should be undertaken before jumping on a spec stock, this hit a high of what 50c and where's it at now? PNG: Australia May Ask Govt To Intervene In Exploratory MiningĪustralia may ask Papua New Guinea to intervene in exploratory mining which some fear could threaten the heritage value of the iconic Kokoda Track reports The Age Online.

Nice call Stop_the_clock, very well researched! You've also failed to take into account - (i) initial development costs, (ii) per lb production costs (the resource is pretty low grade, so the per lb production costs would probably be pretty high), (iii) time to development.Īlso you're calculations are based on today's metal prices, it'd probably be sensible to use a price closer to the long term average.Īnd thats all assuming they really have the resource they claim to have.ītw I've been drinking beer since 3pm this afternoon so its quite possible I've stuffed up as badly as you with the numbers - I've put the maths belowģ40,000 tonne * 2204 lb/tonne * 3.6 $US/lb * $1.33 $AUD/$USĥ1 tonne * 32151 oz/tonne * 660 $US/oz * 1.33 $AUD/$US

I think you'll find that the total of those resource estimates at face value is about $5 billion AUD at current prices (3.6 bill for the copper, 1.4 bill for the gold).

Stockmaster where is the discussion from