tgfn wrote: gold_diggers1 wrote: tgfn wrote: jdn55 wrote: Tgfn "a few more ozs???" Suggest you d o some more DD. 43-101 resource is 2MM oz + and kobada zone 1 is wide open alongside strike and depth and there are known satellite zones of mineralisation that have not been drilled out. Kobada has well north of 5MM ozs and will eventually be a 200 oz + per year producer.
Well, i did my DD, so have a look at p. 15 of the FS, were Reserves are stated at 511 koz.
I am sure that i don' t have to tell you, that
reserves is all that matters in a FS.
In that regard,
your 2Mill oz are totally irrelevant.
If you'd take a cut-off of 0,1g/t, zhey might have 10Mill, as long as they are not Reserves they simply don't exist in a FS.
That said, still the best FS i've read lately from a potential near time producer.
take care
Good, at least somebody agrees with me that things that matter are in the BFS..... not the iffys, fluffys talking stuffs.....
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tgfn is even more to the point...... in the sense that, in a BFS, the thing that matters is the 511K oz reserve, not the 2MM oz resources mentioned in the BFS?!!
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GLTA all longs....
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The Point i am trying to make is, that one can' t take parts of the FS and mix them with other stuff.
Capex, AISC, LOM, processing plant design etc. strictly apply only to those 511koz.
If you want to mine this 2 MILL oz, you would need a completly different mine design.
For the sulfides you will most probanly need a CIL circuit, there will be hardrock, so you ' ll need a crusher, you will need more drilling to be done etc, etc.
So, you will end up with a much higher Capex to start the Projekt with higher AISC etc etc.
Thats why it's nonsense to mix FS data with data not in the FS
AGG took the sweetest parts of the cake and put that in a FS.
For me, thats perfectly allright, i think, they didn't have another choice, since they almost ran out of cash.
If that mine gets financed and they start getting positive cash flow, then they can think about what to do with the other ounces on their property.