Excelsior well-positioned

HAVING recently engineered a back-from-the-living-dead revival at a toll treating venture north of Kalgoorlie, the team at Excelsior Gold now has an ambition to put the company in position next year to commit to a standalone mining and processing venture of circa 100,000 ounces per annum.

Excelsior well-positioned Excelsior well-positioned Excelsior well-positioned Excelsior well-positioned Excelsior well-positioned

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...