GREY:NOPUF - Post by User
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Chreca1on Oct 29, 2020 12:26pm
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Malcolm Shaw today
Malcolm Shaw todayLittle New Oroperu deserves its own paragraph in this section. So far, so good on this one as the Barrick earn-in deadline approaches. My view remains unchanged from earlier this year in that Lagunas Norte is worth a lot more with the Tres Cruces ore, full stop. ORO’s Tres Cruces would add high-margin oxide ore that could/would/should serve as the early production material for a Lagunas restart and would add “critical mass” scale to the sulphide resource, pushing it to over 7 million ounces on a combined basis without drilling a hole. For reference, assuming US$1000/oz margins on the oxides (which is arguably conservative), Tres Cruces represents US$400-500 million of cash flow waiting to be picked up (truck, shovel, and haul road) while the sulphide development plan is put in place. This needs to get sorted out before this New Year’s Eve, so tick tock.