Resource EstimateI was surprised about the -ve reaction today to the resource estimate
I phoned the company and spoke to Guy (Guil) He said they were ecstatic. He compared the company to Northgate explorations - the Kinross deposit - north of Prince George. Operating costs are similare and they will likely be a matrgin better than NOVA GOLD. This doubled the resource estimate. This gives a 15 year mine. Need 1 billion $. If applying for say a 3 yr loan he sees that mine could dble capacity and maybe pay off debt in 1 and a half years.
Sees mining 65,000 tonnes per day or 12 million tonnes in a year. Next stage a Pre Feasibility Study - sees mine being 35 - 40 years. I looked at 0% cutoff CuEq and 3.013 tonnes contain 0.12 %Cu, .01% Mo, .1 gét Au and 1.55 gét Ag with .16% Cu.
Most mines I know would likely try to take some of the richest readings first for first few years. We are not even done yet. I believe the experts. This is not nearly as bad as you are making out. Most times we take a negative interpretation and the Roustons of the world will show a more positive angle. Too many times we let the frustrations of the board overtake the reality. I am staying long and will enjoy some bargain hunting.