OTCPK:KRCLF - Post by User
Post by
Farquaron Oct 07, 2022 11:19am
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Post# 35012245
How much $$ did Krr save by buying higginsville mill?
How much $$ did Krr save by buying higginsville mill?Before RNX/KRR owned the HGO mill (purchased in June 2019), they were paying 15$ cdn per tonne tolls for Westgold to process their Beta Hunt ore through the mill..As new owners, krr began to save 15$ cdn plus per tonne but that was 3 1/4 years ago , maybe during the last 39 months the average savings was probably around 18$ cdn/tonne...So they have probably ran close to 5 million tonnes of ore since june 2019 .....so 5 million x 18$ = 90 million $ cdn....They paid about 50-55 million for the mill and got 2 million ounces of gold thrown in with 1800 sq kms of territory and got so many perqs and advantages from being the owners instead of renters and have made a net 35 million profit just on the tolls .So, looking back ...Krr in reality stole that mill, the mill in essence was acquired for free and is now paying rich dividends just on the toll savings... The Lakeview mill purchased for about 68 million $cdn , will also be viewed in a couple years time as another great move...It will pay for itself in no time...