RE:RE:RE:Updatecskhurasu wrote: Interesting calculation Stockzong. Thanks for doing the work. Some questions come to mind.
First, your comparison with Iron Cap does not take into account that Iron Cap copper is worth more than the gold so in metal terms the Iron Cap grade is more than twice your estimate which is gold only. SEA does not publish gold eq grades because there is no such thing as a base metal equivalent to gold.
Second, did you assume the copper at TC can be recovered? Unless it hits a certain grade in the concentrate it becomes a liability, not a revenue stream. The copper grade appears to be too low to my eyes which would knock the copper out of the grade calculation. Some met work should tell us more.
Third, did you estimate TC open pit strip ratios which will limit the economic size of the pit? A pit constrained resource is required to publish a resource estimate...regulators don't allow global resource estimates anymore. SEA stock went up on the Snowfield acquisition in part because the strip ratio is less than one-to-one.
I think your estimates may be pretty close to factual but more info is needed.
I don't take copper into consideration - strictly a comparison of Iron Cap gold vs. Goldstorm gold content. Iron Cap copper, silver, and moly all have value over and above the gold content. Goldstorm is a gold primary deposit. Iron Cap's other minerals don't change the value of the Goldstorm or Iron Cap gold-only components.
I'm not clear that copper or any other minerals at Goldstorm can be recovered. They seem a small part of the deposit so far. I doubt that any companies who are copper or silver producers would be showing any interest.
Also not sure we'll get any good info regarding strip ratio until we know more about the limits of the deposit. Open to input on that, and perhaps we'll see something in the PRE that helps. You can consider that to be one of the risk overhangs to my estimates (of course it could turn out to be a sweet spot as well). I consider the biggest risk elements to be the price of gold and the posture of the governments of Canada and British Columbia to the projects (both TC and KSM). A third risk is that the folks doing the PRE could be very conservative and come up with numbers well short of Iron Cap estimates on a comparative basis. These risks go with the territory when trying to research deposits that don't yet have PRE's.
One thing I'm really looking forward to is how my estimates match up with the PRE. That will give me some good clues on future work with PSZ.