RE:15 million ounces of gold SHEEPBAAA1 wrote: so what if there is 15 million ounces of gold at Golden Summit. How economical is it to get it out of the ground. will it take 100 million dollars to get it out. Dilution of the stock price to obtain these monies. this stock is going nowhere for years. and the fact now they are focusing drilling at Shorty Creek confirms this.
The Sheep
Sheep,
Two comments:
(a) 15Moz is a huge RE. They already have 6.5Moz at around 0.8gpt for Golden Summit Intrusion global, and cruising to 10MozAu grade geater than 1gpt (ave). Hole 2017 has 588gpt/1.7m, plus some others with triple digit gpt. Their ave grade is about 3-4 time that of Kinross/Fort Knox, a few kms south. And Fort Knox is making money and they are running short or ore for the Fort Knox mill.
So, Kinross is watching FVL deposit very carefully (and salivating). It would not be a surprise to see an attempt to take over FVL...but they must convince Eric Sprott to let go his holding (he has some 20%of FVL, but he would sell if the price is right). If Kinross wait for too long, it would face quite a few competitors for this kind of deposit. Anything over 10Moz is not easy to find;
(b) Shorty Creek drilling resumption does not confirm that FVL is going nowhere with Golden Summit. It only part of the deal with the Australian company for their 70% option of Shorty Creek (mainly Cu). The drill program at Shorty would involve only 2500m (15 July 2021)... while 40,000m is slated for Golden Summit for 2021 (take a look at their website under Golden Summit Tab). Hence the emphasis is clearly the Au at Goldden Summit.
GH11