RE:RE:RE:RE:interesting video ceo first majestic silverThe Bayhorse mine is high grade we are all aware of that. The tonnage of these high grade zones at this point is limited. However, as the company has opened up the workings they are finding very high grade areas not previously reported. Previous owners used a cut off grade at 7oz/ton but as the company is progressing and using dense media separation and the sorter they have lowered the cut off to around 2oz/ton. This is significant becasue it will allow lower grade areas to be part of the overall production. This IMO opens up alot more potential of unexplored areas and could take the mine life alot longer than anyone anticipates. Very hard to pin point a sp as it is going to depend on the numbers that come back from concentrate that is being shipped out. If the all in costs come back at say $8 an oz then I would assume that the market is going to very much move the price up big time. If the all in costs are more than this say $12/oz well its still very profitable and the market will digest this and the sp will go to where it goes.
Now BTG could very well be something that would cause the sp to explode all on its own depending on results of course. This is going to take a bit of time for sure. But the potential should not be understated as if it proves to be as good as the two mines on either side of the property well then oh me oh my. Remember that there is no big permitting issues or major infastructure that is required. Most of this is in place.
What I am kind of liking with Graeame is that hey lets get into production don't need a feasability study and this is the approach he might do as well at BTG as he has done at Bayhorse. This is something I have seen before but maybe others have. Saves a huge amount of time and $$$$. I really like his confidence and the way he and his team has brought on production of Bayhorse for sure.
I believe the SP will be double at the end of the year if the numbers from Bayhorse shows great profitablitly. If results from BTG are good or very good then the SP will be more than double. However I can say with some confidence is that the next 6 weeks are going to be pretty exciting for us all. I for one am not into a quick flip for a double. If things pan out like they may I will wait for a ten bagger and then decide. Comments on my thoughts are very welcome.