Economic viability looks goodWas thinking on this one. Few reasons why EGX has confidence on profitable mining for their metal, despite grade average less than 1 g/t.
Close to ground, open pit, lower labor costs, lower power costs, etc. Also, keep in mind the cost they purchased land for at $2-$2.50 per au oz which is 10-20x less than average, as mentioned in recent NR. Kinross already dropped over a billion on fruta project out of the gate, with a similar size deposit. This would have to be considered as a leverage point and breathing room to balance potentially higher production costs resulting from lower grade.