OTCQX:NTGSF - Post by User
Comment by
easycoderon Jun 20, 2020 11:22am
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Post# 31172797
RE:pretty good review from 3 mths ago
RE:pretty good review from 3 mths agoSome salient points:-
Doesn't take into account Covid delays..
10.5 mill tons on the heaps to be reprocessed and 250,000 oz Au (from Viceroy records) - but 50% recovery anticipated or 125m oz Au (1st time I got that clear). $50m worth of existing infrastructure. $35m US anticipated financing (12 companies have signed NDAs and have access to ongoing feasibility study). Reprocessing will start May 2021 and take 24-36 mths.
The Phase 1 gold proceeeds (125K oz) are to be used to repay loan and complete all infrastructure for phase 2 and beyond. So they will have all infrastructure built and they don't want to finance beyond phase 1.