RE:RE:RE:RE:FROM SEA'S Q1 REPORT RE: MTTIf you think $1million is all you need to prove up a small reserve you are beyond hopeless. For a reserve TUD will need 3-5 years of environmental data, metallurgical data sufficient to design and cost an economic extraction process, detailed mine plans, tailings disposal design and waste rock storage, and all this has to add up to an economic project.
As I understand it, the PFS mine plan at KSM is for 30 million ounces aod this is the number you should be using to calculate market cap per ounce. That's how much is permitted now for extraction. Further work is needed to permit additional tailings disposal and more mining but there is no need to do that work now.
Can SEA get the LoO renewed? That's the next shoe to drop. I guess we shall find out soon enough.