Breaker up as 1.1Moz announced
7 September 2018
Breaker Resources executive chairman Tom Sanders is confident its Bombora discovery, 100km east of Kalgoorlie-Boulder, will become a gold mine after boosting its resources past one million ounces.
The junior explorer disappointed on its first resource announcement, with the initial 624,000oz estimate in April sending the company’s shares into freefall.
But an update that boosted its bounty to 24 million tonnes of goldbearing ore at 1.4g per tonne, a 74 per cent increase to 1.1Moz, was well received yesterday.
Breaker shares closed up 24.4 per cent, or 5.5¢, to 28¢.
Mr Sanders said a prefeasibility study is now under way at the deposit, envisaging an open pit project with the potential to support a standalone processing plant.
He said Breaker was hopeful of getting the greenfields discovery at the remote Lake Roe project in production.
“The PFS will inform that but we’re positioning to get it into production as quickly as possible within reason,” Mr Sanders said.
“We’re still trying to figure out where the lower-most pit boundary is going to be.
“We haven’t established that yet because the resource, even though it’s broken 1Moz, is still constrained by the extent of the drilling.”