RE:RE:Shaping up as a nice zombie juniorOkay. 3g is nice, but only 250koz at indicated level, 370 inferred, maybe not very confident. This is unweathered rock in the regolith, beneath the saprolite. I presume reasonably oxidized since they propose CIL processing with 94% recoveries. Anyway, that block contains most of the value of the resource. If you produced at a maximum 60-70% all-in margin, you would pay back the capital with interest and a small profit, over a few years. With realistic capital and opex assumptions, I doubt the IRR is much good. Remember it is 4 years later and costs will be higher, but the gold price is still under 1300. Anyway, there doesn't appear to be much in the way of high-grade resource.
Again, on the new government, as Pete Townshend said, meet the new boss, same as the old boss. This is Brazil, so expect thorough inefficience and corruption at every level of government. Whether they can come to an agreement with the indigenous peoples, is an open question.