Gold Phasing Plans continued....Pre Phase 1 - when a Venture company states that they are acquiring a "modestly" producing gold project.......unfortunately, they actually mean an "extremely modestly" producing gold project.
But before we even talk about the three proposed phases getting underway, it is in my humble opinion, that EQT will have a difficult time closing various elements of the proposed acquisition.....including the private placement. But should they be successful, I honestly can't see it being done before the end of Feburary as they state as a target date.
Phase 1 - the first phase of ramp-up consists of the supply and install of a gravity unit. Not that difficult a process and can be purchased with the proposed funding for Alta Foresta. But will nonetheless, cut into the "year end" timelines proposed by some here. A gravity unit will not increase the recovery rate substantially, but help increase the "modest" producing rate.
Phase 2 - consist of a carbon in leach plant [CIL] operation. But only once permits and supply aggreements have been secured. A far more complicated and environmentally sensitive phase, that will impact the timelines and funds even more than phase 1. This proposed operation could subtantially increase the recovery rate, but commissioning, inspections and tailings facilities complicate the operation to a great degree. But nonetheless, this is still expected to be a fairly small operation, compared the proposed "full production" in phase 3. I would view this phase 2 more as a pilot operation, to help prove the flow sheet [metallurgy], in preparation for a preliminary and eventually a definitive feasibility study.......for the purpose of securing mine construction and operation funding.
I am not of the camp that small [pilot] mining operations will pay for a "full" mining operation down the road. These dreams are proposed often......but seldom bare the proposed fruit/goal/objective. And I doubt very much, that there is enough funds "on hand" or proposed in the current private placement, to pay for the CIL and tailings phase. And it would be near impossible to sucessfully commission this CIL operation by year end!
Sorry! But all in my humble opinion of course!