Research67 wrote: 1)I'm wondering about Victoria's mechanical limitations, prior to project 250's completion; Does Victoria currently have the mechanical capacity to produce and stack 1 mil tonnes per month for a yearly total of 12 mil tonnes? If not, what is the mechanical capacity currently?
We have the capacity to exceed 1 mil tonnes per month.
I was hoping for a more detailed explanation than that. The question comes from several posters here interpreting the FS statement “Ore will be crushed at a nominal rate of 30,100 tpd” as the capacity of the primary crusher. This does not appear to be true. Victoria uses a Metso Superior MK-II 50-65 primary crusher (see page 33 of the current corporate presentation). This crusher has an operating capacity of 6,375 Mtph or 153,000 Mtpd. Obviously it would never run at this capacity, however, it made me wonder; There are lots of components between the pit and the pad; Theoretically, what is the weakest (slowest) link in the mechanical systems, (in tonnes per hour or day)?
Superior™ MKIII 50-65 primary gyratory crusher - Metso Outotec (mogroup.com)
2)What is estimated CAPEX for project 250 and will it be funded out of the current available credit?
Capex is minimal and will be funded out of cash flow.
With Victoria’s debt being amended recently, along with the revolving facility’s maturity date being extended by one year, I wondered if they are expecting to add significant debt. I would still like to know the CAPEX for the project, regardless if it is insignificant. The planned 60k of drilling in 2022 will likely have an impact on the financial situation as well.
3) How much of a production delay is expected during the construction of Project 250?
No production delay. If necessary, we can stockpile crushed ore from the primary crusher and process it once modifications are complete.
With Victoria’s history of explaining production delays after the fact, I thought it might be refreshing to be notified prior to a possible delay, or production deficiency. A timeline of projected down time would be nice to have in advance, regardless if Victoria thinks they can make up for it.
4) What is Victoria's strategy in delaying drill results for Eagle and Raven?
We are not intentionally delaying drill results. We have not received all of the assays from the labs and we will release them all at once when they are received.
This is obviously a sore spot for many investors. I’m pretty sure he is not going to give us a satisfactory answer, but, if you don’t ask, you have no chance at an answer.
5) Has the pressure to be acquired diminished, or is there still aggressive interest?
Can't really comment. We have signed NDA's with a number of companies but don't know or can't say what their intentions are.
John has answered this question in the past, suggesting an acquisition was imminent. Once again, if you don’t ask, you have no chance at an answer.