RE:Here is presentation that fooled meidlefreebird wrote: on Nov. 2018.....200,000 ounce producer within 2 years , 2400 tpd mill expansion permits almost completed going from 1200 tpd to 2400 tpd...were did he get 1200 tpd...it starts at the 9;07 mark...gltal
https://www.youtube.com/watch?v=7xoHGqTHzsk
Bachelor Mill was built for 1200 tons per day ...real question can money be made running at 800 to 1200 tons per day of Moroy nd Barry open pit blended ...I think all involved believe so ....question is how and who are best to do it ? Big money and stakes involved for the big boys ....looking back on the Barry PEA no wonder Sprott said tons of money to be made ...Gold now 2400 Canadian ounce ! September 22, 2016 11:29 ET|Source:Metanor Resources Inc. VAL-D'OR, QUEBEC--(Marketwired - Sept. 22, 2016) -Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to present the highlights from the positive preliminary economic assessment study (PEA) completed by GoldMinds Geoservices Inc. on its Barry gold project (Mining Lease BM number 886) which is located 100 km east of Lebel sur Quvillon and 115 km south of the Bachelor Mine in Quebec. Highlights of PEA Barry (*) all in CAD dollars, include: Net present value (NPV) before taxes (at 6%) of $53.5 million;Internal rate of return (IRR) before taxes of 198%;NPV after taxes (at 6%) of $25.9 million;IRR after taxes of 94%;Capital startup of $8.5 million;Payback of 0.71 years with a gold price of $1,560 / oz;All-in production cost of $1,114 / oz (US $891 / oz);For the life of the mine, a production of 193,457 ounces of gold over 9 years;An average of 21,495 ounces of gold production with up to 37,573 ounces in year 2;Milling of 1,200 tonnes per day at the Bachelor plant, with an average grade of 1.75 g/t diluted for the life of the mine including the first 3 years at 2.61 g/t with a metallurgical recovery of 95%;Sterile ration mineralization of 2.17 to 1. Mr Ghislain Morin, President and CEO of Metanor Resources Inc., declared, on behalf of the board of directors: "This positive preliminary economic study is an important milestone for Metanor. We point out that the deposit is located on a Mining Lease previously granted, the deposit is ready to be exploited and it has the potential for expansion. Moreover, there are no steaming agreements covering the Barry project. We will be moving quickly with startup planned for the summer of 2017, following a feasibility study which will include current drilling results. " The Study The Barry gold mine could potentially support an open pit mine with a conventional treatment plant using mineral industry standards, including: crushing, grinding, gravity concentration, cyanide leaching tanks, adsorption of gold by coal activated desorption of coal, electrolytic sensing, refining and reactivation of coal in addition to the destruction of cyanides released from the leach circuit. The Bachelor processing plant has been resized for an annual capacity of 420,000 tons in this preliminary technical and economic study (PEA). The anticipated gold recovery is expected to exceed 95%. No provision has been made for the treatment of low mineralized material and content for material that could be mined by underground method. The calculation of the tax and mining rights was conducted by the firm Raymond Chabot Grant Thornton (RCGT) of Val d'Or from a cash flow document prepared by GMG. The current scenario plans for transport by road train of 150 tons. An average milling index of 13.3 kWh / t is used. The pit resources in all categories totaled 2.23Mt @ 1.54 g / t measured, 270kt @ 1.40 g / t Indicated, and 1.17Mt @ 2.69 g / t inferred. The pit resources are derived from the total mineral resources using a model of blocks 3m E x 3m N x 3m Z - rounded - capped at 35 g / t, with a cutoff grade above 0.66 g / t. ClassificationMineral ResourcesWasteTotalTonnageGrade AuAu contentTonnageGrade AuAu contentTonnageSterile/oreTg/tOzTg/tOzTMeasured2,225,0001.54101,0004,175,0000.2433,0006,400,000Indicated270,0001.4012,000515,0000.213,400780,000Measure + indicated2,490,0001.52122,0004,690,0000.2436,0007,180,000Inferred1,170,0002.69101,0002,660,0000.076,0003,825,0002.01 Technical SummaryMine life (LOM)9 yearsPit resources3.612MtAverage diluted grade gold1.75 g/tUncovering rate (sterile ration: ore)2.17:1Tonnage treated per year420,000tAverage annual production sold21,495 ozGold produced and sold total193,457 ozMain Capital costCADOverburden stripping0Processing plant$1.1 MRoad repairs (40 km)$2 MMine, Drilling, Feasibility$2.85 MTailings$0.55 MInfrastructure$2 MTotal starting capital cost$8.5 MOperation cost (per ton processed)CADMining cost$27.28/tProcessing cost$19.90/tExploration (resources renewal)$2.01/tAccommodation & employee transportation$1.88/tIncreasing of the tailings pond capacity$0.15/tAdministrative fees$6,76/tFinancial results before taxes with a price of gold at 1,560 / oz(CAD)NPV at 6%$53.50MIRR198%Cost for the production of one ounce$1114/ozCapital reimbursement period0.58 yrAvailable Cash Flow$61.15 MFinancial results after taxes with a price of gold at 1,560 / oz(CAD)NPV at 6%$25.9MIRR94%Capital reimbursement period0.71 yrAvailable Cash flow$30.95M The financial analysis using a price of gold of CAD$1,710, representing a 10% increase from the $1,560 used in the PEA would generate a NPV of $78.07 million with an IRR of 246% before taxes.