Post by
templetooth2 on Jul 18, 2022 4:11pm
Amazon vs Arctic
Interesting comparison. G Mining (GMIN) this morning announced a financing package for the 2.1 million oz TZ project in the Amazon. Start-up late 2024 vs early 2015 for Sabina.
Including contingencies and taxes, Tocantinzinho has a capex of $476 million, remarkably similar to the $469 million for Back River as of March ’21 updated feas. study.
GMIN will produce 174,700 annual ounces, 78% of the 233,000 annual ounces at Brrr. For the first 5 years, production of 196,174 ann. oz or 68% of 287,000 respectively.
GMIN will mill 12,900 tpd from a pit that will eventually measure 1250 meters strike, 860 meters wide and 355 deep. Remember that SBB will mill 4000 tpd.
By my calculation, Sabina has 549 million fully-diluted shares and GMIN 453 million. Ignoring cash balances, at 75 cents (Cdn), GMIN has a market cap of Cdn$340 million or 62% of Sabina’s Cdn$549 million at an even buck per share.
TZ has resources of 2.1 mm oz, Brrrr about 8 mm. Both have upside potential to those numbers. As I understand it, Sabina has 2million more in the bag at George.
I point all this out because I think it’ll be interesting to compare the projects’ progress. Would you prefer to swat mosquitos and leeches in the darkest Amazon, or mosquitos and frostbite in the Arctic?
Comment by
hemiman on Jul 19, 2022 1:38am
This post has been removed in accordance with Community Policy