OTCPK:STADF - Post by User
Post by
cre8valueon Feb 18, 2015 12:02pm
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Post# 23439693
RE:Primero Black Fox 2015 pit depletion
RE:Primero Black Fox 2015 pit depletion
Ted - I think you are right on this. Notice that the Sept 2015 time frame is about the same time that Taylor is supposed to start commercial production. There is no reason to haul the ore all the way to the Holt Mill when it can be processed at the Black Fox Mill that is much closer especially since the open pit ore will be depleted. Everything is lining up for Primero to take out St. Andrews soon. If good news from Hislop/Grey Fox extention gets released then this will surely get away from Primero. I don't think they can risk that. "a write-down of $75mm to Black Fox owing to a decrease in the open-pit reserves following detailed drilling work in 2014. A lack of continuity of the high-grade lenses as well as void from historical mining resulted in a significant decline in open-pit ounces, which are expected to be fully depleted by September 2015 "