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Richard Schodde
down 22% since 2012 in US dollar terms, it is actually at an all-
time high from an Australian dollar perspective.
“The exploration spend in Australian dollar terms is actually
higher than it was back in 2012,” he said. “We haven’t felt the
pain as much as some of the other countries. I’d make the
comment Australia has found its mojo and Canada is still in a
haze of marijuana smoke.”
Schodde says: “One of the real challenges for the industry is it does take time to Schodde says: “The reason why we had a large blowout in our
drill out and properly understand the size of the resources that we have. For a lot discovery costs in the last decade is because the market got too hot.
of the stories we’ve heard at this conference, the gestation period between that It cost you a lot of money to hire a geologist, it cost you twice as
initial discovery hole and the maiden resource is in the order of 3-5 years.” much to drill a hole.”
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