PumplyCrockford wrote: Urbani wrote: EQT is producing Gold.
Who said EQT was not producing Gold? ?
Albeit, it looks like Yukon Gold right now without the Black Bear's
EQT is producing Gold right now.
Urbani, you would be correct, atleast that is what Chris Harris has stated.
Chris Harris the new CEO and President said in a recent interview that EQT was producing enough gold today in their make-shift platform to fund the current operations.
So basically he's saying their producing enough gold to break even and keep things running along. But not enough production for further expansion.
He went on to say that another PP or some other money raise vehicle would be required to take the company to the next level. Each gravity feed/filtration system they want to buy will cost $300,000 each. So that is the next phase needed to take EQT to the next level and get above the break even point.
The third phase will involve the more costly Carbon and Leach (CIL) set-up to further advance the production profile. I am not sure the cost of the CIL plant and infrastructure.
The $550 dollar AISC per ounce of gold you projected is in the ball part for sure. I would say to make sure there are no surprises and be really conservative I would put the AISC at about $600.
We're already going into May and it has been stated many times that it will take them two to three months to get the first phase involving the gravity feed system in place. So I wouldn't expet too expantion right off the bat. I would say maybe around late July or August we mat start to see greater headway and progress being made.
It looks like it will be internal expantion through organic growth so there will be some time between activities.
IMO 2017 is when things may well come together and really start to attract greater visability. I think 2016 will involve mostly growing pains, but with proress. But it appears there is infact production on a small scale today.
An improving gold price can't hurt.