OTCQX:NTGSF - Post by User
Comment by
easycoderon Dec 17, 2019 7:23pm
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Post# 30466239
RE:RE:RE:RE:Cash cost...
RE:RE:RE:RE:Cash cost...Presumably that''s why they hired Richard Goldfarb the Orogenic expert. They completely stopped promised reporting on the 3Aces bulk sampling project except for some small samples used to use the new extraction tech. If sampling was going great guns why would they stop it even if BC was full speed ahead? The $100 mill cost to drill the hell out of 3Aces to do a RE they obviously couldn't and can't float. BC saved their (and our) a$ses. They only said $100 mill for 3Aces after they were able to switch the story to BC. That said they still have support from di Capo, Sprott, mcEwen and the rest. To my mind 3Aces is a Gold optionality play. One interview I saw had Greg MCoach talking to Janet S and leading her with a wink to confirm 2m oz (which she obviously couldn't - just a wag). Nice to have 3Aces - they can wait for the POG to rise or do a JV.
As for BC, I have no idea what cash cost they could get at. I guess that first POC is going to be the PEA for the leach pad.
I'm more focused on how they're going to finance the cost of $35 mill which they'll need early next year. They don't tell us the burn rate just as they don't level up as to what is going on with the 3 Aces sampling. If they borrow $35 mill that could end up as Red Kite v2.