RE:RE:RE:RE:RE:RE:RE:Is Private Placement open to the public investor?well said
cskhurasu wrote: RocknJuan has it nailed. The Technical Report of last year with the resource estimate probably killed Treaty Creek and I said so at the time. Metallurgy is just as important as size and grade. Can you produce a saleable concentrate that is rich enough to pay for everything from mining and milling to shipping and refining.
SEA's new PFS produces a clean concentrate with a grade of 64 grams of gold per tonne, 177 grams of silver per tonne and 24% copper. At today's metal prices this is worth US$5500 per tonne. Very saleable.
TUD produces a concentrate of up to 2.7 grams per tonne with no additinal metal value. That's worth USD$156 per tonne. It just doesn't work. The resource ounces to date have no commercial value. The Technical Report says you can increase the grade of the concentrate but only by substantially reducing the amount of gold recovered.
Drill all you want. If you don't get a high grade resource estimate this year with better metallurgy, this puppy is done. The new high grade intercepts are too deep and too late in the game, in my estimation, to develop an alternative scenario. Close spaced drilling required for a high grade resource estimate at depths of 500m+ would bankrupt SEA. You are running out of money, the current raise is obviously not going well, it's "best efforts" which means it isn't done.
I have been sounding the alarm for months. Why is there no PEA? Because the project does not work. Lots of gold means nothing without dozens of other factors lining up.