OTCQX:BGMZF - Post by User
Comment by
RedHorizonon Dec 06, 2012 10:46pm
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Post# 20696264
RE: RE: RE: Thankyou Frank
RE: RE: RE: Thankyou Frank I'm glad you brought this up. Cow mountain is superior to Osisko's Canadian Malartic and it is superior to Detour. Both of those guys are bouncing around down at a measly 1 gram per ton. Cow Mountain is an open pit project with about a 4 gram/ton average. This is extremely high for an open pit. Take for example TMM, Timmins Gold. They have a profitable open pit project in Mexico which is mining a grade of .6/grams per ton and they have a cash cost of about $750.
If we have 4/grams per ton how low can our cash costs be? I don't know the answer but I would expect that w/a 10,000 TPD facility it should be meaningfully lower than $750. So, BGM isn't just huge, it should also be a low cost mine. This is why Ian Gordon said he believed BGM would be taken over within 6 months of the CTO being lifted. There is simply nothing like Cow Mountain/the Cariboo Gold Belt out there in the hands of a junior. And Rex Harbour is smart enough to know this.
GLTA Longs other than Rex and his accomplices.