My thought on the PEA is....What exactly can hurt us? The low grade gold? These companies making low ball offers already know the extraction rates and the grade of gold. yet still make offers. Low grade gold caused a lower extraction of about 85% but 85% of 10 million oz is still 8.5 million oz of gold.
Fuel is cheap
Power is cheap
We are next to fresh water sources
Tax rate is lower
Gold on the rise
Open pit operating costs are low
We hire cheap ecuadorian workers
I'm sure I am missing something but all these factors add up to cheap operating costs. Now we have prven up 15 Billion dollars in resoucres and thats not counting the other copper vein that has not been drilled.
What is a low ball offer? We all thought Lundins, 244 Million was low. I personally think it is and we have more dollar value in the ground than them. Even at a lowballl offer we still can see 10X profit room here on a sale.
I know I am usually optomoistic here but its for good reason, there is nothing in Ecuador that we own that can prove to be negative. Glenn, is the only thing I would be concerned about. Will he accept a reasonable offer or will he decide to attempt to get more and we lose our bidders? I guess that would be up to Glenn and Aura.
$1300 an oz is great. Ever 100/oz gains us hundreds of million in profits from our mines.
GLTA and hope we we that PEA within the next days....