RE: RE: Long on CSGGORO - I own it.
MTO - Don't like, much words, little proof. Management puts out pump reports of "estimated" oz in ground without real evidence. In the end it, it probably will be pretty high cost producer from it's UG resources. (sorry for the negativity)
NGG - I own it.
CGC - this is interesting
Capital Gold is like four times as expensive as Castle gold.
The projects are almost exactly the same in size, strip ratio and recoveries.
Life of mine:
Capital's grade is 0.6 g/t vs. Castle's 0.5 g/t
Operating costs are 5.37/t (includes NSR) and 4.45/t (CSG)
NPVs seem to be quite similar.
Capitals gold's resources were defined with somewhat lower gold price. So NPV will get little boost there. Operating cut off grades are very similar CGC has 0.17 g/t which reflets the lower gold price used. CGS uses 0.15 g/t.
The question is, what is the story with CGC resources? Why do you think they could produce 250k oz. Especially with 0.68% recoveries. 2007 they had already 40m tonnes in resources (most measured & indicated) at the similar grades as the reserve. It was not included to mine plan because it was uneconomical? or some other reason?