While we all steam at what might have been under other circumstances and also recognize that without a mining permit in ground gold is worth zero, we should also consider what CGT has shown it has within its 45% ownership.
Positive Bankable Feasibility Study completed in March 2017: Examples -
• AISC of US$749 per ounce gold
• 2.75 mill oz P&P
• 2 Moz gold in-pit Indicated and Inferred Resources excluded from Reserves
Remember all the infill and exploration drilling that NG did both within the pit and well beyond which was concluded approx.18 months ago. NG has sat on this information for what could be several reasons; e.g., they don't feel it is necessary to bring it to market yet (NG is not public so results do not help their company value). Or, the results proved basically worthless, or the results add satisfactory to excellent value to the project (especially CGTs value). Again, NG would gain nothing by bringing this information to market.
Remember, the reserves/resource calculation was done using a gold price of $1200. Revised P&P and M&I calculations will be influenced by e.g., a new gold price used, including in ground gold grades reconsidered based on improved gold prices. Potential new ozs that were discovered in last drill program and further the impact of detailed and 2019 based energy and costs analyses that may also help improve reserve/resource calculations.
This information will be some of the initial catalysts brought out before and after the granting of any permit (should it be awarded). Remember, this will be the newest, most modern and highly transparent gold mine to be allowed (and in the Rainforest!). IMHO, we will be looking at 3 mill + P&P ozs when all is factored in with an increased resource in support. What do you think the SP momentum play will be here if this all occurs?
Also, Trump has till the end of 2020 to continue his global affairs approach. What might this mean for gold? Do we think we will have a permit granted before the end of 2020? I don't know, but investors have to decide for themselves whether to stay or go.
GLTA -
https://twitter.com/EarthsRare