RE:RE:RE:Could the last $1.5m PP be cancelled or modified. If a significant and valuable resource is discovered in the future at Elder, then why not just hire back some workers and re-open the mine for Abcourt?
All the infrastructure is still in place. After the drilling and engineering work is done, the company would only need to do a cost analysis which would include the future transportation expense in moving the ore, once again to the mill.
I don't think that the re-opening of the Elder mine will happen anytime soon. The focus will be on motivating the current Elder miners and tradesmen to seriously consider the option of working at the SG mine.
If the workers thought that the Elder mine was just a very temporary closure, then I imagine many of the present miners and other tradesmen might choose, just to wait it out.
Previously, Abcourt had decided that much of the equipment maintenance at the SG mine would for cost reasons, still be done at Elder. This may have changed. The SG mine and mill may now become Abcourt's new central hub of operations.
The company might be planning to sell off some of its moveable assets from Elder or send them to the SG mine. Unneeded trucks could also, be sold off. But they might well be kept on site for their potential use in any future toll milling operation.
However, if the company decided to begin a new mine, say at the Discovery property, then perhaps some of Elder's moveable equipment and infrastructure could moved to that location to help reduce the start up costs there. Of course, then any hauling vehicles could be kept for future ore movement from Discovery, back to the mill.
I'm not certain about how much of Elder's building, shop maintenance and hoisting equipment might be considered moveable to a different location. But it might be a substantial amount. This could provide some considerable savings in the process of starting up, any new mine.
This kind of decision might depend upon the time required to re-evaluate the value of any re-start of the Elder mine.
I am not sure how the near term funding of Abcourt's operation will be accomplished after the Elder mine's closure, three months hence. Perhaps toll milling may be the expected revenue source until the SG mine becomes fully commercial.
Any present day private placement, soon to be done, will also help during the interim. And it likely won't be done for less than the announced 10 cents per share. That would send a confusing signal to the market, indicating that the company may not be, as transparent and trustworthy, as they now claim to be.
Remaining hopeful for a promising future with Abcourt Mines.
Past failure does not pre-determine Abcourt's future!
All the best! Java