Imminent. Development News An updated Feasability Study for HD mine opening began several months ago which will double the mine life of the October 2022 FS as it will included gold resources from Orion and Stoger Tight reserves .
Also the newly acquired Pine Cove mill will save a bundle on transportation costs of the HD ore and as well, will not incurr the cost of a $50 million upgrade to the Nugget Pond mill.
The Pine Cove mill last operated in March of 2023 .
Other than care and maintenance and tweaking a few operating improvements, it is ready to go .
Final major permitting for Hammerdown mine was expected by exit 2023 which would include updates to the Development Plan application to include processing of Hammerdown feed at Pine Cove.
That approval should soon be released.
Also in Q1, Approval is anticipated for the remaining construction specific permits .
There are of course ongoing and other exploration activities planned for 2024 which will also be included in the update.
We have 97 m in 7 cent warrants which will generate over $6 million in cash to the treasury upon exercise.
These are held by several insitutional investors .
Along with current cash, those funds will support a substantial
portion if not all of 2024 planned expenditures .
Plus other developments ...