What could happen under the right conditionsA company operating in the Southern Abitibi belt in Quebec under the name "The Canadian Malartic Mine" took 7 years from acquisition to full production. Their figures are based on .97g/t and 1.04g/t. We all know that is a lot less then EAG. This mine is one of the largest gold mines in Canada. Maybe EAG will do one better. Cheers.
2004 acquired property
2008 they got approval for the project
2009 they got financing for $ 1 billion and startup
2011 they went into full production
2012 they were producing 500,000 to 750,000 oz of gold
"Seven years following the initial property acquisition, after over 750,000 metres of drilling, the filing of a positive feasibility study in November 2008, government approval of the project in August 2009 and successful financing of the CAN $1 billion project, the construction and start-up of the Canadian Malartic open pit gold mine has been completed. Commercial production at 60% of capacity was achieved in May 2011 and ramp-up to full production capacity of 60,000 tonnes per day should be achieved by the end of the second quarter of 2012, allowing for an annual production of 500,000 to 750,000 ounces of gold and making this one of Canada‟s largest gold mines. Total proven and probable reserves (at US$1200 gold) currently stand at 10.7 million ounces gold (343.7 Mt @ 0.97 g/t Au) contained within a larger in situ Measured & Indicated Nl 43-101 compliant resource of 11.80 million ounces gold (352.7 Mt @ 1.04 g/t Au), making this a world-class gold deposit."