GREY:ADEXF - Post by User
Post by
Greenandgold.on Feb 02, 2012 10:59am
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Post# 19479526
Hope Bay dead
Hope Bay dead More evidence exploration in Nunavut is too damn expensive: https://www.cbc.ca/news/canada/north/story/2012/02/01/north-newmont-hope-bay.html
Newmont puts the Hope Bay gold project on care and maintenance. They spent $1.5 billion acquiring the asset, they have a resource of more than 9 million ounces of gold, gold prices are outstanding, but operating costs are still too expensive to risk building the project. Nunavut kills companies.
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Newmont spent $95 million on the sealift alone last year. https://newmont.com/features/our-business-features/Hope-Bay-Team-Welcomes-Cold