How many digital Gold & Silver tokens have been issuedTo Anyone following CSQ Canamex.
Where can I find the issued amount of actual Issued Gold and Siver DIgital tokens that have been sold into the market which are to be settled first and foremost before Shareholders can benefit from any Gold Production should the mine proceed to development.
The question I have is how many ounces of Gold and Silver is to be issued to token holders ?
GOLDUSA and SILVERUSA tokens are effectively long-term royalty interestsd on the Bruner project, which will require the delivery of gold and silver if or when commercial production is achieved. Holders or potential purchasers of common shares of the Company should be aware that a GOLDUSA and SILVERUSA token holder will receive gold and silver, if or when commercial production is achieved and after redemption of gold and silver are satisfied, the Companycould sell any remaining resources available. Table 2: Conceptual Production and Processing Summary
| Year | Tonnes | Gold Grade | Contained | Recovered | Silver Grade | Contained | Rec’d |
| (000’s) | (gpt) | Gold (oz) | Gold (oz) | Grade | Silver (oz) | Silver (oz) |
| 1 | 3,224 | 0.501 | 51,936 | 39,350 | 4.87 | 504,538 | 42,920 |
| 2 | 3,279 | 0.601 | 63,341 | 50,850 | 8.19 | 863,161 | 73,400 |
| 3 | 2,444 | 0.445 | 34,948 | 35,120 | 3.55 | 279,084 | 31,290 |
| 4 | 2,877 | 0.475 | 43,943 | 41,110 | 3.9 | 360,307 | 43,500 |
| 5 | 2,852 | 0.549 | 50,339 | 43,720 | 5.05 | 462,604 | 43,540 |
| 6 | 2,839 | 0.465 | 42,471 | 38,230 | 5.91 | 539,441 | 51,210 |
| 7 | 2,822 | 0.645 | 58,563 | 51,850 | 4.68 | 424,741 | 43,070 |
| 8 | 1,417 | 0.975 | 44,414 | 39,810 | 4.38 | 199,635 | 25,090 |
| 9 | 0 | | | 5,260 | | | 6,380 |
| 10 | 0 | | | 4,000 | | | 3,000 |
| | | | | | | | |
| LoM | 21,755 | 0.558 | 389,955 | 349,300 | 5.19 | 3,633,511 | 363,400 |
Note: Numbers in the table have been rounded to reflect the accuracy of the estimate and may not sum due to rounding.
Capital and Operating Costs
Initial capital is estimated at $US 37.81 million, including $US 4.8 million for contingencies, but not including $US 8.1 million in reclamation expenses, or $US 6.8 million for working capital. Additional capital expenses such as a heap leach pad expansion and pre-stripping of the Penelas pit bring the total LOM capital required to $US 51.8 million. The PEA assumes contractor mining with the contractor providing all mining equipment, maintenance, fuel and explosives. Operating costs were estimated based on process design criteria, current contractor mining rates at similar sized projects in Nevada, grid power available from NV Energy’s 60Kv line located in Gabbs. All costs are in Q4 2017 dollars. Average cash costs are $577/oz. for the first two years of operation and $872/oz, thereafter. Break-even gold prices are $849/oz and $1012/oz respectively, or $958/oz life-of-mine.
Table 3: Capital Cost Summary
| Capital Items (US$) | Initial Capital | Sustaining
Capital |
| Mine | $ 5.71 million | $11.2 million |
| Admin, Infrastructure, Processing | $21.11 million | $ 1.75 million |
| Indirect (includes EPCM, contingency, owner costs) | $ 10.99 million | $2.73 million |
| Salvage | | ($1.7 million) |
| Total Capital Cost | $37.81 million | $13.98 million |
Table 4: Operating Cost Summary
| | | |
| | Cost per tonne processed | Cost per payable ounce
produced (net of silver) |
| Mining | $8.80 | $548 |
| Processing and Heap Leach | $2.63 | $164 |
| G&A + Reclamation | $1.35 | $ 84 |
| Total Cash Cost(1) | $12.78 | $796 |
| All-In Cost(2) | $15.16 | $944 |
Note 1: Cash cost is calculated by dividing total life-of-mine production costs by total ounces produced. Note 2: All-in cost is calculated by dividing the sum of all capital, operating, and royalty and reclamation costs by total ounces produced.
Permitting & Property Location
The Bruner Project in Nye County, Central Nevada, is located on both patented lands and on public lands managed by the Bureau of Land Management (BLM) Carson City Office. The BLM and the Nevada Division of Environmental Protection (NDEP) will be the primary regulatory agencies responsible for ensuring environmental protection as the Bruner Project progresses through permitting and approval processes.
While the project manager has had preliminary discussions with both agencies regarding an initial mine development plan on the project, formal Mining Plans of Operations have not been submitted yet, and baseline studies to support permit applications have not yet commenced. The Company expects that baseline studies to support an Environmental Assessment will commence in the spring of 2018, and permit applications will be prepared during 2018. All other applicable State and Local permits will also be applied for in due course. It is anticipated that permitting for the project will take approximately 18 months to complete. The Company has already secured approval from the State of Nevada for adequate water rights necessary to conduct mining activities. The approved water rights will be sufficient for life-of-mine operations.
The Bruner Project is located within the Walker Lane gold trend. The nearest mines are the Rawhide Mine located approximately 30 miles to the west which was operated by Kennecott Minerals and produced in excess of 1.7 million ounces of gold and 17 million ounces of silver between 1980 and 2005, and the Paradise Peak Mine, located about 30 miles to the south, which was operated by FMC and produced in excess of 1.5 million ounces of gold and 20 million ounces of silver between 1980-2000. Canamex cautions that historical production from the stated nearby mines has not been verified by the QP is not necessarily indicative of the mineralization on the Bruner Project property.
Resource Estimate
The NI 43-101 compliant resource estimate included in the PEA was performed by Randy Martin, SME-RM and is built upon prior work in 2015 by William Tanaka, FAusIMM and by Randy Martin, SME-RM as part of the 2016 original PEA, and is comprised only of gold resources that fall within the boundaries of conceptual pits with engineered ramps and smoothed walls. Grade models for all three resource areas HRA, Penelas, and Paymaster were all re-created to reflect additional drilling completed in all three areas since the original PEA in 2016. The Resource has been updated to reflect the additional drilling and refinements in relevant economic parameters.
Table 5: Mineral Resource Statement
| | MATERIAL ABOVE EXTERNAL BREAKEVEN CUTOFF |
| | Indicated > 0.192 gpt Au Equiv | Inferred > 0.192 gpt Au Equiv |
| Zone | K-tonnes | Au grade gpt | Ag grade gpt | Cont’d Au k oz | Cont’d Ag k oz | K-tonnes | Au grade gpt | Ag grade gpt | Cont’d Au k oz | Cont’d Ag k oz |
| HRA | 4550 | 0.61 | 7.76 | 89 | 1135 | 250 | 0.36 | 5.37 | 3 | 43 |
| Penelas | 12350 | 0.59 | 4.70 | 234 | 1866 | 1650 | 0.59 | 4.43 | 31 | 235 |
| Paymaster | 600 | 1.01 | 4.4 | 19 | 85 | 200 | 0.54 | 1.12 | 3 | 7 |
| Sub Total | 17500 | 0.61 | 5.49 | 342 | 3086 | 2100 | 0.56 | 4.23 | 37 | 285 |
| | MATERIAL ABOVE INTERNAL BREAKEVEN CUTOFF AND BELOW EXTERNAL CUTOFF |
| | Indicated between 0.117 and .192 gpt Au Equiv | Inferred between 0.117 and 0.192 gpt Au Equiv |
| Zone | K-tonnes | Au grade gpt | Ag grade gpt | Cont’d Au k oz | Cont’d Ag k oz | K-tonnes | Au grade gpt | Ag grade gpt | Cont’d Au k oz | Cont’d Ag k oz |
| HRA | 1150 | 0.16 | 4.43 | 6 | 164 | 50 | 0.17 | 3.6 | 0 | 6 |
| Penelas | 900 | 0.16 | 3.17 | 5 | 92 | 100 | 0.16 | 2.59 | 1 | 8 |
| Paymaster | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sub Total | 2050 | 0.16 | 3.88 | 11 | 256 | 150 | 0.16 | 2.93 | 1 | 14 |
| | ALL MATERIAL ABOVE INTERNAL BREAKEVEN CUTOFF |
| | Indicated > 0.117 gpt Au Equiv | Inferred > 0.117 gpt Au Equiv |
| Total | 19550 | 0.56 | 5.32 | 353 | 3342 | 2250 | 0.53 | 4.14 | 38 | |