RE:What will take to prove WM economics?WM has already proved the economics of mining Fenelon. Look at the last coorporate presentation. They can mine 212 000 ounces average over 12 years. Mine is paid for in 4-5 years or less depending on price of gold. At the current price of gold (as of the time of writing this is $2026) that works out to $430 million per year. That's $5.1 billion dollars. Not Economcial?? Really?
Total cash cost is $749/oz. With an initial capital cost of $645 million and a sustaining capital cost of $594 over the remaining years, what company wouldn't want to put in a total of $1.2 billion to make $5.1 billion.
However, given the proximity of the other mine why wouldn't a company want to sure up a PEA to combine for a larger mine and make more money. Where do you think the price of gold will be in the next few years as inflation comes down, which would also bring the price to construct down.