RE:RE:RE:RE:Interesting..MAE allocates Space for Shoreline Expansion That should be late December.
There should be no doubt about the outcome of the FS.
The 2022 had an IRR of about 55% at $1750 POG including, by recall, about $40 millin or so to upgrade the Nuggett Pond mill and acquire and operate a high tech X Ray ore separator .
That will not be the case for the updated FS due to acquiring the much closer Pine Cove mill which eliminates $30 million for the Comminution upgrade for Nuggett, elimitating the costly XRAY separator due mainly because it was only 95% efficient , reducing recovery by 5 % ..about 13,000 ounces = $40 million on Reserves of 272,000 ounces.
Pine cove mill adds another 3% gain in recovery , so instead of recovering about 245,000 ounces in 5 year LOM as was the case for the 2022 FS, about 266,000 ounces would have been recovered under current FS model....a $50 million gain in NPV along with $40 million gain in NPV for $35 million less capex
Add $750 US per ounce to the reference POG for the updated FS, boost Reserves by the addition of Stoger and Orion and the LOM could reach 10 years instead of 5 years in 2022.
Add $15-$17 million gain in cash due to warrants and Stockpiled ore production and our updated capex should be quite modest.
Under these aforementioned changes to the 2022 FS and an NPV5 after tax in the updated FS should be above $600 million , assuming a 10 year LOM...doubling LOM more than doubled NPV
The delay might be due to the Xmas 2 week holiday normal for mining crews..