RE: Ball-park estimatesNot at all unrealistic, but I think your tonnage is a bit high and your grades a bit low.
An historic work, completed in 1997, led to the estimate of resources in the Horseshoe zone totaling 455,685 tonnes grading 15.97 grams gold per tonne or about 225,000 oz of gold.
Dont know what the cut-off was but probably 5 gms/ton.
Since then, addtional drilling has expanded the size of the Horseshoe zone and discovered new zones like Red Mountain and Bif etc.
The original work was focussed on underground mining which requires higher grades than open pit mining, which is the current focus of MRK.
Open pit can be profitable at grades as low as 0.5 gms/ton. depending on the strip ratio etc.
So, if the new 43-101 comes anywhere close to the 1997 estimate, we are off to the races, in which open pit mining can be quickly initiated to produce early and strong cash flows to fund the remainder of the develoment program for Damoti.