With an already established sizeable resource position, and typical recent margins for miners in the Western Australian ASX gold sector of A$400-500 per ounce, the ambition stands to reason.
Excelsior’s MD Rowan Johnston told the Mining 2017 conference in Brisbane last week the ideal situation would be to have 400,000-500,000oz in reserve by the start of the next financial year.
A 33,000 metre drilling campaign is underway, with around 60% program being infill and the balance on exploration.
Notionally speaking, the company looks particularly well-placed.
For if the drilling doesn’t go as well as hoped in the short term vis-à-vis defining the reserves being targeted, Exce...