RE:My questions for VQA mgt tomorow - Thursday 2.15pm EST A few comments on your questions from previous NR's or own DD down.
1. My understanding is that Thomas Puppendahl and Jeremy Gray both were part of the Chancery Asset Management that worked with K92. He also did work with Orinoco Gold. My understanding is that the property is now part of the reverse take over with Pacific Arc Resources (it is currently halted). Sounds like they have experience in that area. Jeremy Gray also worked with Troy Gold - which then left the property to Orinoco Gold. That would be their connection to the area based on their experience with Troy/Orinoco Gold.
2. The first gold pour was pushed back a few times here now. First part of December has it scheduled. I would be surprised to see this news release for the closing of the pp. Further details may come as I believe from videos from their old website that there are plenty of opportunities in the local area for expansion, but they will need to "prove" themselves first before alot of those fall into place. Or at least I would want to see that if I was a vendor before committing to them.
3. Potential production on the property.... In one NR it states that annually 250,000 oz of gold is mined. If there are 17 mines in the area which make of the 250,000 oz it would be on average 14,700 ounces per mine. That would be equivalent to 1225 ounces per month per mine. If Lima is average at best for the area that 1200 ounces would be my long term target for production. Given those numbers for Lima I would expect ballpark figures like that from Livramento as well longer term.
4. In Kinross presentation it states for their mine Paracatu Mine that their cash costs are somewhere around the $568/ounce. Given we may not be quite efficient off the start until equipment is fine tuned and updated, my guess would be between $600-$800 an ounce.
5. Great Question
6. Great Question
7. Great Question - I think production ideas are there, but would like to know targeted timelines for production goals. In the October presentation it states that a gracity processing plant can be purchased for less than BRL 1m (CAD $250,000) and can be operational within less that 2 months.
Others to ask if you dont mind.
1. What is the plan for financing potential acquisitions in nearby properties? The current pp doesn't give alot of extra room for working capital.
2. What is their priority when we see positive cash flow after paying off current obligations to existing loans and processing?
3. Where is the updated technical report for the Livramento property? It states in one NR that they have filed it, but I don't see anything on SEDAR.
Thanks GoldenEra