Post by
stanjs on Jun 29, 2021 1:17pm
Underground mining is expensive and risky
I am GPY holder here. Please note, your AZG underground mine is expensive to operate, risky and everyday is exposed to risk of collapse and rockfall. Your miners need to be paid more, expensive equipment and extra spending on structures needed to reinforce mine shafts, and energy to ventilate the mines continuously, including all the monitoring. Don't tell me you want to work there!
To support costly underground mines, the gold grades need to be stupidly high... like what is it now. Don't think your high grades are worth much, if it cost even more to get them!
Majority of open pit, heap leach projects are sub 1g/ton gold but way way way cheaper than underground mines, and much more profitable!
Comment by
stanjs on Jun 29, 2021 1:21pm
IF an accident happen underground, mining has to completely halt for safety time out and check as well... there goes your production for days! One mine, all it takes is one accident to shut it down!
Comment by
satchmo6 on Jun 29, 2021 3:23pm
What's worse----''there is no gold in Arizona''--- to speak of------and Nevada is almost all mined out----- except for las vegas