RE:RE:RE:What would LAB shareprice have done with SIC NEWS?Stockpicks96 wrote: Considering Moosehead is right next door to the recently approved Valentine Lake project by Marathon Gold, and both are in arms length of the trans canada highway, lack of infrastructure and amenities are a non-issue for SIC and nothing we shareholders need to worry about - nice try.
Page 4 of SIC's Moosehead Project Slide Presentation - Moosehead's high grade area is inland from the Trans-Canada Highway and Highway 360 with the pond appearing to be right in the centre of the high-grade area. Presentation is dated October 2020 but it's the only one I could find that shows the geography of the high-grade zone within the Moosehead land claims package as a whole.
MOZ has been at it re. the Valentine Gold Project since the latter half of 2020 and I'm not sure they've even past the permitting stage yet (see below). Also,I don't think MOZ had to do any barge drilling or will have to drain ponds before starting to build a mine. What Marathon Gold has went through to date re. their Valentine Gold Project:
- April 2020 Pre-Feasibility Study
- Sept 2020 Environmental Impact Statement
- March 2021 Feasibility Study
- April 2021 43-101 Technical Report
- May 2021 Agreement with Qalipu Mi’kmaq First Nation
- May 2021 Agreement with Miawpukek First Nation
- July 2021 Project Financing Facility announced
- Oct 2021 Minister of Environment and Climate Change for Newfoundland and Labrador has notified the Company that the Environmental Assessment Committee for the Valentine Gold Project (the “Project”) has completed its review of the Environmental Impact Study (“EIS”) for the Valentine Gold Project (the “Project”), and that additional information is being requested.
- Jan 2022 Files an amendment to the Environmental Impact Statement for the Valentine Gold Project. The amended-EIS has been filed with the Environmental Assessment Division of the NL Department of Environment and Climate Change pursuant to the Project’s ongoing Environmental Assessment, and is the second such amendment filed.
- March 2022 Impact Assessment Agency of Canada completed its technical review of the Environment Impact Statement, an important milestone in the federal Environmental Assessment (“EA”) process as the Projectadvances towards EA Release. On March 16, Marathon received formal notification that IAAC has received the necessary information to complete the technical review and prepare the draft EA Report and potential conditions of release. IAAC will issue the draft EA Report for the Project for public comment for 30 days. On the completion of this period, the Minister of Environment and Climate Change Canada will be in a position to make a determination on the acceptability of the Project for development.
A parallel provincial EA for the Project is ongoing. Under this provincial process, a 70-day period of public and technical review of the EIS is nearing completion. At that time, Marathon expects to be notified by the Newfoundland and Labrador Minister of Environment and Climate Change, as to whether the provincial EIS review has also been completed.
Successful release from both federal and provincial EA is a pre-condition for the completion of mine permitting and the commencement of mine construction.
- April 2022 Providing guidance on remaining regulatory approvals and permitting, the Project’s execution strategy and schedule, mineral resources and mine planning, capital and operating cost outlook, and project financing. "Subject to this regulatory schedule, site early works to commence in the third quarter, supporting full site mobilization by the end of the year and first gold pour in late 2024."
Interestingly, the "Project" section of Marathon's website still states the following:
"Marathon currently contemplates completion of the project’s EA process in the second half of 2021, breaking ground for construction in early 2022, and a production start in the second half of 2023."
So, it appears they are already over a year behind their original schedule in terms of their gold production target date, and that's provided no further delays occur re. their remaining regulatory approvals and permitting, mine building, etc., which is unlikely in my view as further unforseen snags will probably occur and, combined with the current (and future?) inflationary environment, I'd be very surprised if the project came in on budget.