RE:RE:RE:SVM just got sweeterhttps://www.guygold.com/News/News-Details/2019/Guyana-Goldfields-Inc-Announces-First-Quarter-2019-Operating-Results-and-Comments-on-Potential-Mine-Plan-Optimization/default.aspx "The Company has submitted an application for an underground mining permit to the Guyana Geology and Mines Commission. If approved, the Company proposes to commence commercial underground mining in 2022."
isn't anybody here concerned that guy does not have an underground mining permit yet?
they have only around one year of open pit left and they hope to do commercial ug mining in 2 years. that leaves a gap. they are permitted for only 350,000 tonnes of ug test mining, at their 2.75 g/t ug grade, that is only 31k oz at 100% recovery rate. even if things work out perfectly and they spend $141 million according to their LOM plan, how many ug mines are profitable at that low a grade?