RE:RE:Dave4444 don't know what he is talking about
As they don't have Ni 43-101, APP can't write officially the amount of the cash costs they could have. So, we will not see those numbers on written documents. But, as Mine Dufferin has already been in production during 8 months in 2001, they get some internal numbers about the grades they get at that time, confirmed by the drilling they made in the last few years. With all their internal informations, they were able to evaluate what kind of all-in cash costs they could get for the production. I got the number by someone close to the management, and i know i can beleive them.
The company have already paid in full in october 2011 the mine and plant, and everything is ready to go in production in a few months. They get a gold loan of $10. millions from the lender who have completed the due diligence, and they will send to APP the remaining $7.5 millions of the loan in the next few days to start the production. Before lending $10. millions to APP, the lender have made his home work and know the production will be profitable for the years to come.
APP have no others depts than the gold loan, that they will reimburse totally the lender with about 20% of the gold mine production during the next two years. The way the production will be made (by ramp) is even less costly than an open-pit production, because they can have access directly to the vein of quartz underground, where the gold is in.
The grade of the average mineral to be mined should be at around 10 gr. /t. what is very high grade for a gold production.
All those items gave me great confidence that the all-in cash costs will be that low and really profitable.