GREY:GBRIF - Post by User
Post by
longtoothon Jul 11, 2011 2:47pm
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Post# 18819037
let me make a prediction
let me make a predictionright now the cost per tonne to mine, truck, mill is on the order of $250. At a grade of 6 g/t gold the cost per ounce is $1250 and this does not include capital costs for the mill upgrade, the camp setup, the underground development to get to the ore nor any of the exploration costs.
so after they pay for the 25,000 ounces they will produce this year there is $6 million left over to pay the debt (capital costs, exploration, etc).
and by the end of this year they will be mostly out of ore at the Roy Lloyd mine. Now add in a cost of $2 million to dewater komis (if they are actually doing that) and then a cost of about $1 million to demobe everything. leaves a debt ridden company with no production by the end of this year.
it will be interesting to see what Ron does with this mess.