We are in good shape for Murchison RejuvenationIn the background, one can imagine lots of connected discussions about resuming mining at Murchison .
Lets not forget that Burnie and Tuckie have nearly 1 million ounces between them and any rational review of what ODY has found in Turnie is just scratching the surface with known strike making current estimates a mere precursor to greater things ahead .
But, early cash flow is now the main item of discussion .
Thats always the case with miners.
Drill and define enough to begin mining, and use that cash flow to finance the extension of the mine life.
So, we now pay 20% of operatiinal and development costs from now on.
OFY owes us over 1 million which takes care of the first $5 million of shared development costs.
Lets say $20 million in development costs including expanding the Burnie Mill, and we still will pay just another $3 milion.
So, we are sitting pretty, have just to pay out of petty cash to get Murchison producing 40,000 ounces 60% of which will be Burnies contribution.
Just the start actually .
At least 1.5/million ounces with the next drilling phase at Turnie and Gabbie..l
How did we come this far this fast ?
Dato...