RE:EXCELLENT Presentation by de Jong: a SummaryHTG,
Excellent summary. Also thanks TomG for the link.
A few comments/observation to add.
- de Jong added picture of Salamis to this presntation. He still did not make the cut. Alright, so he's a teaser.
- They got no problem with recruiting, over 1000 resumees, workers can come home for dinners, no need to fly them in and out (2wks in 2 wks/1wk out) plus feeding etc...
- shares are quite liquid (just in case you need to pull out some money for children shoes or iPads to drag around).
- #4 Plug is now 140,000 oz, but I think he's is conservative in his estimate.
- Similarly with #6 Plug: 60,000 I + 20,000 INF
- So, satellites: ~200,000 oz
- #1 Gold Rush Target: Drill was sitting at the parking lot Exploration Office (still don't have the exact location of this, onyone?) to be moved out to a new location for poking around that deposit which seems to sit underneath the Toyota dealership (the high mag bulls eye shown in the other presentation at the Precious Metal Summit). Check the area out...Google Toyota Delaership Val d'Or.
-Triangle: As indicated, the I+INF = 1.17Moz. This is over 1M and about the same that of RIC (discussed in my previous post yesterday). Triangle alone @ 100,000 oz/yr for 10 years would be equivalent to the current RIC which has a Mkt Cap of about $1B. Assuming that ICG has a potential to reach that status (in 1 year) the Cap should be about the same ($1B/500Ms = $2/s). But I think ICG will come out better (having a much larger total deposit and a lower AISC than RIC).
-Sigma: We'll wait for de Jong to pull this 2.4Moz rabbit out of the hat, at least part of it above 400m. The study was supposed to be completed at the end of August. May be he will throw it in the PEA as well as a surprise?
- Lamaque Deep: Convergence/merging of the two plugs (Sigma and Lamaque). Not too much was discussed about the buffer area between the two plugs. This area has been a grey zone since the two properties belonged to two different owners. There seems to be some evidence that significant deposit (there are some drill results from the Sigma side) could reside in that 500m separation, not only below 1100m, but above that as well.
GH