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Grid Metals Corp V.GRDM

Alternate Symbol(s):  MSMGF

Grid Metals Corp. is focused on both lithium and copper/nickel projects in the Bird River area, about 150 kilometers (km) northeast of Winnipeg, Manitoba. The Donner lithium project is a 75% owned property subject to a joint venture agreement. The MM copper/nickel project is a resource-stage project that is undergoing exploration and development work. All the Company’s southeastern Manitoba projects are located on the traditional lands of the Sagkeeng First Nation, with whom the Company maintains an exploration agreement. The Donner project is located about 145 km northeast of Winnipeg, Manitoba. Its Falcon West Lithium Property is located within the West Hawk Lake Greenstone Belt of southeastern Manitoba. The MM Project includes a copper-rich (Mayville) and a nickel-rich (Makwa) disseminated magmatic sulfide deposit along with three additional near-surface deposits (Page, Ore Fault, and New Manitoba). Its other projects include East Bull Lake palladium project, and Mayville PGE Zone.


TSXV:GRDM - Post by User

Post by Mookster3on Oct 28, 2023 7:35am
206 Views
Post# 35705474

comment on update

comment on update   The updated Donner-Snow Lake comparison presented below deserves some additional comment. Although the cost for upgrading the True North mill is higher than expected, Grid is in a good position in that they can start production essentially right away using the Tanco mill at 500t/d. This gives them early cash flow and allows them to potentially defer the cost of the True North mill upgrade if that’s what conditions dictate a year or two down the road. At 500t/d the current open-pittable resource would last for 12 years. At this lower production rate and for an open pit operation, the pre-production and mining fleet costs should be much lower than listed below. Also, I think Ontario has just passed legislation that allows closure costs to be amortized over the life of the mine, rather than being paid upfront. Not sure about Manitoba, but something similar would seem reasonable. I’m guessing actual initial capital costs for the Tanco mill option would be less than half of that listed below.  Also, several of the line items in the Snow Lake PEA are substantially lower than the more comprehensive values determined by Primero (mill capital cost, mill processing, admin) which raises a few eyebrows.
 

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