GREY:VITFF - Post by User
Comment by
givemeabreak1on Jul 09, 2024 9:17pm
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Post# 36125540
RE:RE:How much did the Heap cost? Run the numbers ppl! :)
RE:RE:How much did the Heap cost? Run the numbers ppl! :)MD
I am not sure it matters 27 million tonnes to 32 million tonnes is still alot of tonnes. The 92 million is sort of just a bigger number. If you get hit with 10 nuclear warheads or 100 the result is still the same. As to the amount of material that escaped containment the report I read it was sort of unclear! According to it only have of the ore invloved in the slide is so far contained. As to the 4 million tonnes number I am not so sure how acurate that is time will tell. Remember there is tonnes of material in the pad and another 2 million tonnes in the stacking area. So let us be favorable to the company and say only 4 million tonnes down the slide. That works out to about 80,000 ounces of gold or about $184 million in lost gold alone now add in losses per month not operating, add in interest on loan with no cash flow. My opinion and I have stated it before I do not see them surviving in their current format. Likely Creditor Protection vs Bankruptsy though both a possibility. Creditor protection people keep their jobs and eventually the mine starts up again. That said, shareholders are wiped out or may get a token .10 on the dollar. Just one mans opinion.