Focus posts maiden Karridale resource

FOCUS Minerals has completed the maiden resource estimate for its Karridale deposit in Western Australia’s Laverton region, but the company has also posted yet another loss as its gold operations remain in mothballs.

Focus posts maiden Karridale resource Focus posts maiden Karridale resource Focus posts maiden Karridale resource Focus posts maiden Karridale resource Focus posts maiden Karridale resource

Without an income the company posted a full-year loss of A$4.8 million, an increase of 51%, largely caused by the divestment of Jasper Hills tenements

While Focus has some $52 million in cash and investments, it is effectively only being valued for its treasury, and its market capitalisation of $59 million suggests little value is being placed on its strategic holdings at Laverton or Coolgardie.

The junior has plans to resume mining at both centres at some point, and Friday’s inaugural resource for Karridale is a nod in that direction.

Using a 0.6 gram per tonne cut off the total resource for Karridale is 12.7 million tonnes at 1.3gt for 538,000 contained ounces, comprising an indicated 2.7Mt at 1.5gpt for 135,000oz and an inferred 10Mt at 1.3gpt for 403,000oz.

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