Why MTO needs to keep drilling up both Barry and Moroy ...simple prove up the ounces and years of mine life...look at the numbers what Goldcorp is paying for in their most recent takeover of 520 million ...and a start up of 317 million + 161 million in substainnig capital...and then you see the potential of MTO properties....key here for us is getting numbers in PEA done for Barry...we are able to get some big numbers over + 2 g/t and higher...then you have Moroy ...mill.. etc...looks like miners are shopping in Canada ...I think MTO is now going about things in the right way too generate shareholder value...IMHO...the Barry area could be a big winner for us now !
Goldcorp (TSX: G; NYSE: GG) has offered to buy Kaminak Gold (TSXV: KAM) in a $520-million, all-share deal to get its hands on the junior’s high-grade Coffee gold project in the Yukon.
The Coffee project is a structurally hosted hydrothermal gold deposit that sits within Yukon’s White Gold district, 130 km south of Dawson City, and 300 km northeast of Whitehorse.
Goldcorp, the world’s fourth-largest gold producer, became interested in Coffee after a January 2016 feasibility study and signed a confidential agreement with Kaminak in early March, Kaminak’s vice-president of corporate development Tony Reda says.
The study — led by JDS Energy and Mining — outlined an attractive heap-leach, open-pit, low-cost operation at Coffee. With a 10-year life, a mine could produce an average 184,000 oz. gold annually at all-in sustaining costs of US$550 per oz. gold. Estimated start-up costs are $317 million, with another $161 million in sustaining capital.
While Coffee has a global resource of 5 million oz., the study was based on an indicated resource of 3 million oz. (63.7 million tonnes grading 1.45 grams gold per tonne), which includes 2.2 million oz. in reserves (46.4 million tonnes at 1.45 grams gold).