RE:I sit here and think - Did Goldcorp screw us over ?POOCOO2 wrote: Why in the hell would anyone choose to dig a tunnel from one production mine to another -under ground ? - thousand of meters down. It would never be worth the effort?
That tunnel goes to a very deep high grade deposit discovered by Gold Eagle and sold to Goldcorp in 2008. I made out quite well in Gold Eagle, so I remember some of the details. The deposit starts 800 meters down, and goes down another 1500 meters or so from there. The cost of the shaft and equipment to get that ore to the surface was going to be the bulk of the development cost. Agnico Eagle bought into the project, and that spurred Goldcorp to make a $1.5 billion offer for a deposit that didn't even have a resource estimate yet. I'm not a huge fan of Goldcorp's managment - paying that kind of money for a project at that level of development is questionable - but I was on the right side of that deal. They felt that a horizontal tunnel to the nearby Goldcorp mine that already had workings at the same depth made more economic sense than a shaft, but like I said, sometimes I wonder about their management.
Premier had nothing to do with the tram decision, but it made exploration of Rahill/Bonanza a lot easier. The fact that Goldcorp is operator on that means Premier has no say in how or when it's done, so Ewan's choices are wait or sell.