Told ya?Translation.
Cost savings mode and not mine build mode.
Marc Andr Pelletier, President and CEO commented: "Challenges in preparing the PFS as a result of inflationary pressures on energy, equipment, and labour costs are affecting the entire mining industry, especially in northern Quebec. Rather than join the ranks of mining companies that are developing assets in this challenging environment, Bonterra has decided to re-evaluate the development plan at Barry. Importantly, all the technical work carried out to date is expected to form a solid foundation for future mine development and especially for advancing the permitting.
With the Bachelor-Moroy deposit underground infrastructure under long-term care and maintenance, the Company is on track to reduce its maintenance costs and expects to reallocate those financial resources towards advancing the development of the Barry project. Other cost saving initiatives are also being considered to further reduce costs.''
Quay