RE:What I think about Spargos.Heartbrker wrote: Spargos and beta hunt
They are both locate about 60km away from Higginsville mill. With 60 mil cash sitting in the bank, I believe the management is looking to buy another mill around two mines.That’s what I think why they bought Spargos at this time.
they keep exploring Higginsville mining area, and they have too much feeds for mill just from Higginsville. Cheaper cost even with lower grade.
Can anyone help me to see if there is a mill that is close to Spargos and beta hunt that might be on sale? I know Minsor have one mill close by
Northern Star's Jubilee Mill ~20km north of B-H is one possibility. NS recently acquired it from West Gold as well, as West Gold shut down their operations in the area. RNC used to have some of their toll milling done there. NS is an ~A$10B company, and growing fast, so I doubt KRR would be able to wrangle their Kalgoorlie operations from them unless we start hitting $hitloads of jewelry boxes.
GoldFields' St. Ives Mill is just a stone's throw south across Lake Lefroy from B-H. GF is the 7th largest mining company in the world. NS is to GF what KRR is to NS. However, GF's Kalgoorlie's operation 'only' generates about 350K AuOz/year. If KRR starts hitting $hitloads of jewelry boxes, that could be the more optimal choice, as GF land holdings are contiguous with KRR's.
Silver Lake's 1.2mtpa Randalls mill is another possibility, ~35km east of BH. As SL is more on the scale of KRR (better established, >200K AuOz/yr in production, and has a larger cash position), this looks to be the more realistic possibility.
Note, however, that any one of GF, NS, or SL might also have their eyes set on KRR.
I don't know of any other mills in the immediate area.