RE:RE:RE:RE:RE:RE:RE:Patience Wearing Thinphoenix_trader wrote:
Why are you unwilling to compare Nordgold's Gross mine which is apparently identical to Eagle and about one year further along the production path?
Phoenix_trader - I did some research on Gross Mine. There are some key differences betwenn Gross Mine and Eagle Mine. Summary below:
1. Capital expenditure for Gross Mine was $250M.
2. Gross Mine was completed ahead of schedule and below budget.
3. Gross Mine was launched September 12, 2018 and reached commercial production by December 2018.
4. Designed for 12Mtpa Gross Mine was pushing 14Mtpa an year later following the first gold pour.
5. Gross Mine has a two stage crushing circuit (-60mm and -40mm). Very lean and smart design. Eagle has been struggling since day one with all equipment associated with tertiary crushing (transfer chutes, feeders, screens, dust control system and tertiary crushers).
6. AISC for Gross Mine are $760/oz in Rusia. Canada is not Russia when it comes to costs.
7. Gross Mine has a much higher strip ratio.
8. Nordgold has a competent management team.
9. Nordgold is the big fish when it comes to size. They produce over 1Moz/year in total.
10. Nordgold doesn't have any hedges in place.
11. Nordgold self financed building Gross Mine, with cash flow from their operations.
Good luck!