RE:RE: geosan0 geosan0 - (1/26/2018 4:34:50 PM) RE: geosan0
The goal is not to mine Wasamac in order to utilize the mill capacity but rather to optimize the remaining operations. I attended the annual meeting this month where "OUR" CEO gave a presentation. In the presentation "OUR" CEO plans to optimize both mills by continuing to source material for the Camflo mill in order to be able to divert the Beaufor ore to the Beacon mill which is closer to the Beaufor ore body.
All you would have had to do is ask if anyone attended the annual meeting to see if any of your concerns were raised and addressed or better yet you can call and speak to "OUR" CEO. He is very personable.
Once again, Good luck to all the MQR longs and as I posted previously Wasamac is a project that provides optionality in a rising gold price environment in CDN $.
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I am very well aware but by the companies own tech report Beaufor has 30K ounces. That is one year of production then what.
I think what will happen and hope will happen is enough ore is processed along with the contract or to cover costs and prevent further dilution.
This way Beaufor ore lasts long enough to get some of the other deposits back on track as they are obviously mothballed since the RIC deal.
My biggest concern is triggering the liablity if they run out of ore with no other sources of income other than printing paper.
In my books that 20% dilution from the RIC deal is a write down.