Go Get It Well now that the hype party is over, With a resource that is realist for the main zone a shaft (250M), Developmnt drifts(200M), and a mill wil be 1 billion capex. then get afer it. the upside is at least as big as the current resource and once they are down there the drilling out is accounted for
. there will be additional resources along with the known ore. That is how it works. Most mines never had more than two years left but ran for 50 years.
Drilling 1300 meter tiny holes hardly gives any indication of the resource. Down at the drift 25 meter holes 5 m apart shows where to keep heading into. The miners can see and smell the ore as they are drilling. I don't know how to explain it but anyone who has been there knows what I am saying. The technical people (GEO'S/ Planners ) guide the miners into the ore bodies and the miners drill them out, They work together to capture the ore.
The MRE did not include any of the other resources they have found around the property. So those small blocks of ore can be mined to provide additional money. Small scale high grade ramps into the known ore.
Sounds simplistic but there is always a upside and a downside to any business.
I think VC gave out a real MRE on this one. and I dont apreciate his smug attitude, but respect him for that.
If they can't mine ore profitably at ten grams then all of the mines in Canada would be shut down. There is a whole bunch of ore (2.5X) around those high grade lenses that is grading 5 gt.
Still waiting