RE:RE:PDAC stockmyster, checkmate,
Good to see everything was back to normal for PDAC this year. The attendance at the conference was quite good .
Came across a couple of other value plays that had dropped off my radar the past couple years.
I had a short chat in with Ryan King as he was heading off to a meeting. The main point I was able to obtain was current impact of the fuel costs. At the present price of fuel and gold, the cost to production is approximately 0.5 - 0.6 gpt per tonne ...... if my math is correct, that would work out to about $30.00 - $35.00 / tonne.
First of the "corporate developments" press releases today .... Good to see the company has the local community's support, and that Calibre is making a positive impact in the area that Pavon operations are located. More higher grade ore for La Libertad now permitted and should start hitting the mill in 7 or 8 months .
Was also told that there will be some updated guidance from the company in the not too distant future, as well as exploration drilling results from Nevada and Nicaragua. I'm wondering if we will also hear about progress at Eastern Borosi in a later press release.
I was over at Rio Tinto's booth for a bit, and asked about their Joint Venture with Calibre. Rio still has an active interest in the project and are maintaining their option, but no further comments offered about any exploration drilling. Talked with reps from B2Gold for a few minutes as well. B2Gold loves what Darren Hall and his team are doing in Nicaragua, and remain staunch long term investors in CXB.
I figure alot of people might be concerned about the fuel cost impact to the bottom line, but the way I see it, what would the costs be to increase production by building a new mill be by comparison. I do like this hub and spoke philosophy, and with the higher grades at Eastern Borosi, the roughly 400km haulage of ore to La Libertad would still be much less expensive than installing a new mill.
GLTA !