YESAB Comments Draft Sceening Report Reading the various responses from all parties to the Draft Sceening report seems to indicate a generally favorable outlook for the Eagle project. Some points are addressed below:
- Cyanide Detox Plant - This is the most controversial item as Victoria originally proposed the plant be built in year eight of operations. That ain't gonna happen. Victoria has countered with building it in year 4 of operations. That is likely going to be negotiated with the outcome being plant construction somewhere between startup of mine construction and year 2 of operations. Construction after operations begin allows Victoria to pay costs from cash flow.
- Power - This issue seems to be ok with some futher discussion likely but I don't see a major problem. The recent trippling of capacity at Mayo should be sufficient.
- Water - Again, water issues seem to be ok.
- Environmental & Socio-economic - Five branches of government reported a seemingly positive response to the Eagle Gold Draft Screening Report.
On balance, I believe this process has been quite positive and it will be interesting to see what the next few weeks bring. If things are as positive as I believe, then we could see approval within the time line that Victoria's management has put forth. That would be approval by January, 2013 and construction beginning early April, 2013.