RE:RE:RE:Keats and Iceberg Trenches spatially connected ?
Thanks for your analysis. They may also do 1 or 2 trenches in 2025, depending on final budget. Maybe Keats West and/or Lotto.
There is just a tremendous advantage to doing a really high grade open pit at surface connecting Keats and Iceberg trenches. There is so much fixed cost to handling a ton of rock (mining it and crushing it and doing other extraction, then handling the tailings). NFGC fixed costs per ton of rock will be relatively low. But the extra variable cost to pullan extra 20 to 30 grams of gold out of a ton of rock will be extremely low, so the margin expands tremendously. The NFGC project makes more sense than many of the current attempts to restart old mines with lower gradesand also makes more sense than the new mining currently in vogue which is to mine extremely large deposits of relatively low grade ore and do it very efficiently (think Agnico Eagle at Mallarca). Especially because NFGC discovery is looking to be not only high grade but huge volume as well. The MRE in Q2 will be extremely important and should factor in the assays from Keats trench (done) and hopefully the assays from Iceberg trench (planned for early 2025).