RE:RE:RE:RE:RE:RE:RE:ICG PEA and Sigma Mill RefurbishmenttomG
"If the initial CapEx is low" as you said, then presumably ICG can proceed to the production stage alone by raising the CapEx through equity offering. If they need $60-70M, even $100M they just offer 100Ms say @1.00/s (assuming the SP would reach that level following an excellent PEA). As an option, they may want to bring in a 50-50 partner (ELD is lurking behind the curtain) to share the risk of the project,... and to tap in the expertise of a senior miner. They may (most likely, actually) even make ELD the operator of the Lamaque South project, since ELD has people with wealth of experience on putting together and operating several mines around the world.
The conventional way to proceed would be to go through a BFS, but if they don't need the bankers for debt financing, why would they spend several $M (say, $10M) to produce this document. All they need is the PEA, as required for the conversion of exploration claims to mining licences.
If ELD needs to convince its own shareholders, then let them produce (and pay for) the BFS. But, I don't think that ELD would need to ask its shareholders for approval for this kind of activity. If their BoD approves a proposed JV, would that be good enough? (just like spending hundreds of $M to bring the mines in Greece into production).
GH