The past 18 months has seen a renewal of senior personnel, a change in name and a partial change in strategy for Great Southern Mining (“Great Southern, GSN or “the Company”, formerly Forte Consolidated). Whilst continuing exploration on the highly prospective relatively greenfields North Queensland projects, the Company has acquired quality brownfields gold projects in the highly prolific Laverton region of Western Australia that in our view have the quality and potential to provide low cost, short term cash flow to fund ongoing activities – these are near mills that have spare capacity.
Ongoing work has led to recent success on both sides of the continent – in Western Australia Great Southern has published an initial 59,000 oz Mineral Resource Estimate (“MRE”) for shallow mineralisation at the Mon Ami property, located within 10 km of Gold Field’s Granny Smith mill, with mineralisation being open along strike and at depth. There is the potential for a Resource upgrade and expansion with only limited drilling (now due to commence) – the cost of the work to define the initial MRE was A$15/ounce.
