RE:Equitas Reports Positive Metallurgical Testing
Holy Smokes,
EQT puts out a news release about the metal recoveries which happen to be excellent. There's not a miner on the planet that would not be excited with the high recoveries of 93% to 96%.
But not one word on the almost three month old drill core results. You mean to tell me they tested for gold recovery rates of what appears to be from the bulk sampling and have zero information to tell shareholders about the drill core result and grades.
The assay company in Brazil must be beyond slow. I honestly have no idea.
Additionally, moving directly to the CIL plant is a big change, and far more costly for the initial phase. Its going to be interesting how the funding will be initiated. Remember, the revolving gold loans have to be paid back with actual gold bullion. The 2,000 ounce payback per year agreement has not changed from the original agreement. Gold can't be produced without the CIL plant being built.
So now we know that production is going a to take a bit longer now that they are going to have to procure, build and make operational the CIL [;ant before meaningful organic production can be facilitated.
I'm cautiously optimistic as things move forward.