TodayI did listen to the Web-ex with CEO Justin Reid. After doing so I have to say that I'm not only relieved, but actually stoked about where this goes from here. Obviously the biggest question answered was why jump directly to the FS & bypass the PFS. The answer is as I thought - the new high grade hits are showing an entire higher grade shelf within the pit wall. After consulting with the board & major shareholders it was determined not to release a PFS that would have been outdated the minute it was released. They want to drill it out & include it in the economics of the FS. They will also make the gap zone drilling a priority between now & then to add ounces. It will very much add more positives to the economics of the FS.
Good news - This change WILL NOT affect the permitting or mine construction timelines! Mid '24 is still the targeted time for the beginning of construction.
More good news - A new resource will still be released before year's end. The last one dates back to the PEA of 2020. This one will be much improved.
Per Justin - The Quebec Gov. will assist in the financing of the project
Currently $20.3M CAD in cash ... 236M fully diluted shares .... 32% currently held by retail.
Per Justin FS will show 20y open pit producing 220-250K oz of gold, 20-25M lbs Copper, 1M oz Silver per year.
My conclusion today is the same that it has been. This is the best AU/CU play around. It's just a matter of when.