Thank you very much, Paul. Thanks for Diggers and Dealers for having Southern Cross yet again. It's actually our hat trick, third time up. Very happy to be back. Today, we're going to have a bit of fun. We're going to talk about something a little different. It's over the other side of Australia that built Melbourne, built the expansion of the English empire, and we're back, baby. We're back in Victoria. It's had lightning strike twice, and I'd like to just talk to that. This being the second lightning strike, the Sunday Creek discovery. A very high-grade discovery. We're going very hard. The discovery hole was only made 3.5 years ago. I'd like that to remain in your mind as we go through this presentation. Go through the mandatory disclaimers here.
We're dual listed. There's a couple of pages that you may read online at your leisure. A bit of a company snapshot. We're listed, as I mentioned, both on the TSX and the ASX. Our major investors sit all around the world with that dual listing. A key focus, about 20% odd between three individuals. Philip just mentioned the Lassonde Curve. We have Pierre Lassonde as a major investor, along with some of his other associates, Darren Morcombe and Kiril Sokoloff. Their investor base around them is about 30%. We have about 24% institutionally around the world and here in Australia as well, of course. We've got AUD 123 million of cash as of last quarter. We're fully funded to do what we're doing, which is quite a lot, which I'll get into in just a moment. Here we are.
This is a little unusual, this project, in that here's Melbourne and beautiful City of Melbourne, where I lived. We're only 60 km to the north of Melbourne. It seems very close, but it's a unique little setting, where we have also now got an ag business. We bought something like 15 or 16 properties and have over 3,500 acres of freehold ownership. The piers in the state are better known around us about 100 km from Fosterville and about 60 km from Costerfield, where Nick gave a presentation this morning. Just for those who don't remember, Fosterville was the highest-grade gold mine on Earth between about 2018 and 2021. It was the lowest cost. It was a top 10 producer. Victoria has pedigree in this new world. I'm not talking about it as an old mining field. Essentially, we found a geological twin at Sunday Creek.
Some news we put out today. We put something like 130 km. There's 11 rigs on site. We're going to 24 rigs by the end of the year, which will be, I believe, the largest drill out on a pre-development project globally. We're really going for it. We put these exploration targets out every year, which are too far apart in terms of all the drilling to be put into a resource. It's not a resource, and I urge you to read the disclaimer that you must around exploration targets, but it's drill-constrained. You can see here we're building what we believe to be a multimillion-ounce, 10 g deposit, which just does not exist out there. Big, high-grade, and in Australia. They're very rare.
In fact, they're so rare I can't think of any that are singularly owned around the world at the moment in a first-world jurisdiction. Here's the bingo card. Where are we today? We've drilled something like 130 km, 11 rigs, like I said, going to 24 rigs by the end of the calendar year when we finish a decline that is being constructed as we speak. We're within a 200 km drill program at the moment. A very large drill program, something like 135 km of that to complete between now and the middle of next year. There's something like 35 km of core that we've got in the lab and on the core rack, there's always lots of news flow occurring out of this company.
You'll never be short of news flow, and so far, lots of high-grade gold that appears to be emanating from this project more and more. We've got 93 intersections that exceed 100 g of gold. We've got 110 intersections that exceed 10% antimony. There's the word that I really haven't spoken about at the moment, about 20% in- situ recoverable value of this project's antimony. It is a significant western antimony project as well. It does help having 80% gold. I'm very thankful that we've got 80% gold, having that sprinkling of a critical metal that is very real and will really play into the Western supply chain of this metal is fundamental. As I mentioned, we've got a lot of land. That's in hectares, about 1,400 hectares or 3,500 acres of freehold land.
We've got something like 200 acres of blackberries as well, it really is the perfect ag business. Something you really need to do when you're at least in this eastern part of Australia is to become a farmer at the same time as becoming a miner. It's early days within this discovery, and genuinely, we have only about 10% of the trend explored, and I'll show you that in pictures in a moment. It's very high grade, as you've already started to see, and metallurgically non-refractory. A simple flow sheet. Having that antimony piece gets us into levels of government and meetings that we'd never really find ourselves in with just a gold project. We say the gold pays for it, the antimony will help permit it, and that's so far very much the case.
It's also got a huge opportunity to lower our cost of capital as we continue to develop this project. We're not just drilling, and we're drilling a lot, we're building this project, and it's really pivoted only from 3.5 Years into the discovery. A little bit about antimony, for those who don't know. Generally, people thought of it as a problem when it came along in a gold deposit because it was metallurgically a little funky. This flow sheet is a gravity float. When you've got enough antimony and you can sell it's actually quite a valuable product, and it's actually one of the only three commodities on the strategic reserve of our federal government here, along with gallium and rare earths, if you want to think of that as just one single commodity.
China and Russia dominate its supply with something like 82%, the largest producer today is in Victoria. It is Alkane Resources with Costerfield. We are going to be a larger producer there. Of course, we have Larvotto coming on in New South Wales. This eastern part of Australia really is the home of rebuilding the supply chain through the world. 95% of it is industrial use in solar cells and flame retardants, its critical piece is you do not have a primer in anything that goes bang, from a munition to a rocket, from a bullet to a rocket. That is where it really becomes critical. When you are starting to talk about those supply chains that tie up your munition supply chain, governments are really starting to, of course, take notice to that. It is a gold project with a smattering of a critical minerals flavor.
Of that money that I said we had in the bank, here is the plan. We are drilling lots, CAD 60 million, 11 rigs going to 24, I have mentioned that. CAD 30 million into a decline, 1.2 km of development. That is now underway and will be finished by the end of the year. Following all that drill out, we will be publishing our maiden resource. Our aim is to be doing that at the end of Q1 and going into technical studies in Q2, the first time that the market will have a study to look at in terms of the way we see this. You never want to forget regional exploration. We have CAD 20 million. We have 2 rigs, a long strike from 30 kilometers.
That way you can overlap those Lassonde curves, you do not go into that valley of death as you are starting to build this because you are keeping discovery going, there is lots of optionality in this project to do that. Here is that slide, just a little bit about the people. You only invest in people in this business, I am very proud to say that we have been able to put a team around this that has people like Ryan, who built the mine down the road for 16 years and operated it. Now he is coming on to do the same here. I have mentioned Pierre. He is not seen on many registers, he is the guy that literally wrote the book in gold mining, he is backing us amongst his other colleagues.
Other people like Ian Smith, who was the CEO of Newcrest for many years, a fearsome character who came onto the board recently and has really added another dimension in terms of knowledge to the project. Then there is a bunch of people who have come up from a lot of the major companies out in Australia, coming along and building this. In this short presentation, I unfortunately do not have time to talk about these wonderful people. We have gone down. There we are. In terms of just what we are doing, it gives you a bit of a flavor if I think you just look at some of the logos. We have PYBAR doing an excellent job on the decline. Lots of drill contractors. You can imagine 24 drill rigs takes a lot of work.
A lot of the study work that's going on behind the scenes, and many of you will recognize all those names and more. This is a project that has really flipped from that discovery into the pre-development mode. Here's a picture of what we're doing. Here's a portal. It's a proper portal, 5.5 m by 6 m. Like I said, that will be down with 1 km of development or more by the end of the year. Some of the portal firings have taken place over the last couple of months. The elephant in the room is, yes, it is in Victoria. Isn't Victoria a basket case and very hard to get anything done? Well, apparently not. There's been four mines permitted.
I stood up here and told you last year what was the best place to permit a mining in Australia, I said Victoria. I got a laugh, and probably did again just then. In terms of the metrics, if you just look at the facts, it's been four mines permitted, and I think that's more than any other jurisdiction in Australia. Our decline was permitted in four months from the moment we put the application in to gaining approval. That's quite an unusual timeframe. Lots have changed. I can't talk about it in this timeframe, but it's been quite the renaissance. Renaissance in the geology, renaissance in the politics. In terms of getting things done. Being broke in a state has been a little helpful bringing projects like this on, no doubt. This is just how the project's grown over the years.
You can see here, January 2024, we're starting to build it out. You can see some of the grades on your left-hand side there. The pink is 100 g. All these intersections are starting to grow out to where we've ended up here with this exploration target over 1.5 km down to about 1 km. It's certainly discovery by drill bit that has led to the success of this project. If we just take this long section like a loaf of bread through this deposit that we're just looking at here, then look at it in the broader sense, here, that's what we're just looking at. We've got a couple of holes going in deep. We've hit 500 m below that box already, and we've got a hole going to 2 km at the moment.
We've got a whole series of mines that we have drilled under here, and if we look 3 km-10 km away from the project area, which is this area here, we've got a whole series of mines there that are in the same geological setting. We just started to drill out through here. We've got a hell of a lot of exploration optionality to test going through there. In terms of the metallurgy, it's a simple flow sheet, gravity and flotation, three products, mid-1990s recoveries of gold and a similar of antimony. Nothing too funky to look at there. Very similar flow sheet to some of the other deposits in the state. Over the next 12 months, what can you look forward to? This is a discovery that we've just started really on. It's a multimillion-ounce, 10-g, very rare deposit.
We're drilling and drilling and drilling and drilling. The biggest drill program in a pre-development project around the world over the next year or so, you'll see. We're going underground. That portal that you saw will allow us to expand that drilling. The resource and the maiden resource will be published next year, but that will only be a line in the sand. We'll have 24 drill rigs still drilling and expanding that rapidly as well. Lots of studies ongoing, then not forgetting that regional exploration into the 90% of this project that has not been tested. Lots of compelling reasons to come and join us on the journey. It's a very unique asset. We're going for it. It's very well-backed. It's got the strategic optionality of the antimony that's very important, fully funded in a jurisdiction that's working so very well. Thank you very much.