RE:Very, Very Interesting I have previously posted the NL Govt proposal for reclamation of tailings on exempt lands and in particular the Consolidated Rambler Tailings on Exempt Lands.
If I recall correctly , those tailings contain about 100,000 ounces of gold....will repost the details .
Smaller mining companies looking to specialise in reprocessing tailings frim brownfield sites can be very profitable.
Adopting a strategy of purchasing waste dumps or historic tails for re-processing as an economic source of commodities has many advantages over greenfield costly exploration for new deposits.
This value is easy to recover as the material has already been mined and avoids the substantial extraction costs of virgin mining, yet these tailings deposits contain high recovery rates .
I previously posted that cash costs were about 1/3 of gross which is well below producer norms.
Excavate, separate, dry stack and treat.
Very straight forward .
Shoreline is currently using its mining and excavation assets to reclaim TSF#1, recovering 20,000 ounces in the process.
The Nuggett Pond Mill sits there with a gold circuit and a copper concentrate floatation unit along with a comminution circuit.
100,000 ounces of gold is worth over $350 million cad in recovered revenue at well below mining costs per ounce .
I mentioned this to Garrett several months ago who expressed interest but was then too busy to capital constrained to consider immidiate action.
Since then , Shoreline has been brought aboard in a cooperative working agreement to reclaim TSF#1 and Firefky has plenty of cash and would greatly benefit from early cash flows that this reclamation project might bring .
It would seem that, as this project has again been revived to inject economic development into the Baie Verte area by its Develooment Group, Maritime, Shoreline and Firefky ....owning the only mills in the region ..are ideally situated to accommodate and take this project on..
AIMHO
GLTA