Yes, $1m and they’re yanking shiny out of the ground.
Of course, this isn’t how it’s always done. Usually, mining explorers will look to raise many many millions, drill as many holes as they can pay for, and try to prove out a mega hundreds of millions of dollars resource estimate.
But sometimes, when you’ve got a little historic data, and some lads with lots of experience knowing shale from shinola, and you can basically see the stuff just sitting there… why not just go grab it?
That’s what Translatlantic is up to. And if they can get their hands on a million bucks, they’re producing gold at just the right time.
We talked to Rob Tisdall, who is from Australia’s shonky suburb of Cronulla, with our own Chris Parry, who hails from the much nicer suburb of Bondi, about how to build a mine for pennies, what could possibly emerge from it once it’s built, and why the Sydney Roosters always get beaten by the Cronulla Sharks.
Admittedly, we might have edited out that last bit.