RE:RE:RE:RE:Very Simple
yes, Marigold is a beauty and one of the first found when I began my own DD. Ive often asked the question and often wondered why its never before been brought up here before. Marigold is often cited as "ultra-low grade / low-cost" producer. And, at first glance, read "grade v grade" seems to be comparable to TC. Profitable mining in my opinion however is the sum of all factors related to grade + strip + met + location + reserves. Comparison is not a uni-polar assessment. In this, even a rudimentary comparison of Marigold, heck, the entire Carlin trend is in my opinion easily defined as not apples to apples to TC. I invite intelligent discussion on this. Why do I feel that not a good comparison, you ask? 1. Marigold is iron-ore hosted gold, run-of-mill type metallurgy. My understanding is that this means simply that ore can be directly heap-leached, eliminating the need for milling, fine-milling, and autoclaving of the ore prior to leaching. This refractory process is required when ore is hosted in oxides, like how I understand TC ore to be hosted. These oxides make the ore unavailable (without the refractory process) to cyanide leaching. The refractory process is very expensive. Idon't know, the PEA will tell us, but it adds risk and this risk in my opinion must be priced in. Now the super jolly pumper team here will in bellicose fashion discard this question as poppy. However, without a full-met analysis being released, it remains of concern to me, and increases the risk profile. IF the met doesn't work, the world doesn't care about more low grade, expensive ounces....hence my suggestion last fall that I hoped they improved the grade this year, because I feel that the SP doesn't seem to care about more low grade ounces. LUCKILY, the PEA will answer this question fullsomely. I am betting, read betting, that the size of reserve will offset the met. The Metates project in MX is in my hope, a better comparison in terms of ore type. This project keeps me sleeping well on TC as its low grades + refractory ore are in fact profitable per this years PEA. 2. Location. TC location is good, but it isn't NV. Average temps rarely go below -5, so permit year round operations. No avalanche danger, no glaciers, no northern BC rain, etc. Anyways, my two cents. Try to remember Mark Twain, how did it go again " It Aint What You Dont Know That Gets You Into Trouble. Its What You Know for Sure That Just Aint So". I every day wonder what I dont know about this project.