RE:Another Failing Grade for AlwaysLong683 Angelique, speaking of not being very bright......
"No guarantee they will be successful"
I assume by "they" you mean ARTG? This coming from someone who likes a company (IAU) that hasn't even completed a Feasibility Study on any of their new projects. While there's no "guarantee" of success when investing in the common shares of any company (wake up), ARTG is a lot farther along than IAU and has de-risked their project significantly (as stated before, please see page 7 of ARTG's Slide Presentation) along with already-established (and excellent) P&P reserves and strip ratios. Further, ARTG has $800M CAD in financing (not including the $33M CAD in likely warrant proceeds or the $40M CAD Cost-Overrun Facility - see page 12 of the linked presentation above) for a project with an initial/expansion capex of $645M. Where are IAU's P&P reserves and strip ratio numbers for any of their new projects....?
"250k of production by 2026"
Well, that's only 3+ years away, so it must be true. You have no idea whether this target will be met at this point.
"Grade is king and LOM grade for Blackwater is a measely .75 g/t."
Depends on the mine.
Detour Gold was open pit with grades similar to ARTG and was quite profitable during the time the company mined the property itself before being taken out by Kirkland Lake Gold.
Coversely, Pure Gold Mining drilled numerous cores with grades over 50 g/t Au, including a few in triple digits (108.5 126.6 133.4) along with one at a mind-blowing 1,147 g/t Au. PGM is currently in creditor protection under the federal Companies’ Creditors Arrangement Act (CCAA) and may come out of CCAA proceedings with its common shares being worthless. Yep, grade is king.
"Mines IMO that are superior to Blackwater. Alamos Island expansion, Osisko's Windfall, Eskay Creek."
1) Alamos already has three producing mines currently in operation, so you can't purchase an individual Alamos project on its own (I thought we were discussing companies working toward their first or early mine build(s)...?...or did you get confused...?).
2) Osisko's Windfall project looks pretty good, but they've only just recently submitted their Environmental Impact Report to the Environmental and Social Impact Review Committee at the end of last month and, unlike ARTG, has not obtained all permitting and approvals for the project.
Further, here are the numbers from Osisko's 2022 Feasibility Study vs. Aretemis' (horrors!) 2021 study, both assuming a gold price of $1,600 USD:
OSK ARTG
After-Tax NPV (5%) 1.2B CAD 2.1B CAD
After-Tax IRR 34% 42.8%
Life of Mine 10 years 22 years
Avg. Ann Production (LOM) 306,000 oz. 339,000 oz.
AISC (LOM) 758 USD 850 CAD
(680 USD @ 1.00 CAD = 0.80 USD)
I assume you know how to interpret the above data.....?
THIS is how you evaluate companies entering stage 4 of the Lassonde Curve, not your "grade is king" kindergarten-level analysis.
3) Eskay Creek??? If you're referring to Eskay Mining (ESK), you've got to be kidding!!! lol.
So, who's the clueless one again......?