RE:for contextThis kind of thinking, that the big boys want 500,000 opy of gold at a low cost of production always got me thinking about history.
Norm Keevil got a small copper mine up and going in Temagami. He had three small underground mines, which each had two years of reserves, and an asset value of about $20 million. This was built by exploration and acquisition to be a pretty good company. Not a Glencor or RTZ, but we're still young.
I would take a 50,000 opy producer at 1.0 opt gold over a 500,000 opy mine at 0.1 opt any day. It's about making money, not moving rock. The grades in Yellowknife are higher than average in any Archean gold deposit, averaging over 15 gpt for the three significant past producers.