Generation Mining Ltd T.GENM

News. Mill purchase

[skiesthelimit]

Looks like management is pretty confident we will get approval. 

no pebble crusher needed, I wonder what savings that brings us. We still need to refurbish the mill, curious on the cost of that. Also I wonder how much cheaper it is buying a new "used" mill is compared to getting a new custom built. 

good step forward.

[dsdsemma]

This is amazing news, ballsy move that removes risk on probably longest lead time item. Looking forward to the approvals coming hopefully early, like October maybe.

[Y93H1979]

Yup, awesome news, and a great move by management. I looked at the BFS and they had budgeted $87 mill for grinding. This SAG and ball mill(s) will also remove the need for a pebble crusher (further savings). Obviously some $$ will need to be spent on the mill and installing it etc, but getting the SAG and Ball for $12 mill is a STEAL, not only saving costs, but as mentioned, it removes the wait

[Supertweety]

The budgeted $87 million was probably the old number before the inflation adjustment. You can easily assume the new number is $100 million . Yes, the $12 million purchase price is a real steal, even if it takes another $20 million to refurbish, deliver and install it. GENM management just saved $50 million or more. WOW 

[Sacks45]

Yes significant saving will help offset some of the inflation pressures