A look at Kinross mine Fortknox operationsFortKnox mine is located in Alaska and operates at a grade of 0,46 g/ton. So this mine is in operation with all sustainable cost of $740/ ounce. At end of 2014, there was still over 2,4 millions ounces. It operates by lixiviation with a leach pad that is very performant.
So yes, in my mind, Ischoo will become a mine. They have still to define the deposit in a more detailed way and have 2 options on the table: 1st is to go for an open pit operation with high volume and low grade.
2nd option to go for the underground where the grade is a lot better but will cost a lot more money in my opinion to define the deposit because they have to drill holes of 500 to 700 meters deep to get a better understanding of it.
Goldcorp is still interested in the play and SOI has raised over $ 5 M. in the past month, so the real investors backed the management to go further down the road.
I would like to see SOI to be more agressive in terms of drilling but in the other hand,it's not always the quantity but the quality of drilling that is the most important.