RE:Eastmain Resources Inc.'s corporate presentation (Jan. 2018)StockM,
Thanks for the Jan 2018 Corp Presentation
https://www.eastmain.com/_resources/presentations/corporate-presentation.pdf A couple of comments,
1. Management should swap the priority between 2 and 3, i.e. making Eleonore South a higher priority than Eastman Mine. The main reasons are: close proximity to Goldcorp and Cheechoo, G is a JV partner, and the results are promissing. Even though Eastmain has a RE, it would require quite a bit of development to grow the RE to something close to 1Moz (to be considered as a stand-alone mine).
The flagship deposit is still Eau Claire, but that coupled with Eleonore South (try to get an RE for the latter) would make them an attractive take-over target for G (along with Cheechoo).
2. Open Pit/UG: An option for the PEA should be a deeper pit (400m rather than 150m). Open pit would be expected to be more economical than UG. Besides, the top 400m would contain 75% of Eau Claire deposit. If there is a chance, do an Open Pit to get most of the gold out first ... and use the profit to develop further the UG resources (underground drilling, from a lower elevation, would be faster/cheaper). It would also be easier to drive a ramp down from the pit wall at a lower elevation to "look around", or take bulk samples in preparation for a UG operation. The larger enough ramp, say 5m x 5m, could be used for both development and mining operation.
GH