Thanks for the posts Reportrader, GEL now has a series of JVs (with options and permit applications) in the vicinity of Waihi, WKP being the whopper in terms of possible resources known to date. These cost a bit to keep going with drilling, but just on queue the placer results are looking solid.

Even 80oz is C$136,000 a week turnover, say $70,000 p.w. net profit. And this is all with GEL's own gear and staff, on very average parts of the Drybread placer area. If the grade went up by 50% then profit would double to over C$7mill a year. And GEL has other machines and placer permits ready to mine.

Like a mousetrap, a small mount of self-funding like this will enable drilling costs to be covered, where the real benefits to the company will be realised.