Now that gold is starting to jump and their mine is starting to look feasible, I've been taking a look at their last prefeasibility study: https://www.geologix.ca/s/NewsReleases.asp?ReportID=576850 I think this is the last one.
The production looks good and in addition to the gold and copper they expect to produce 257,000 ounces of silver as a bonus.
- The Project is expected to produce an average of 117,000 ounces of gold and 49 million pounds of copper annually over its initial seven years of operation.
Just wondering is anyone with experience in reading these reports can confirm that I'm reading the production cost correctly. I assume this doesn't include the capital costs, but these seem incredibly low. They would be printing money even at todays metal prices
Life of mine cash costs of production, net of by-product credits, are estimated to be $170/oz. for gold or $0.62/lb. for copper.1
Thanks for any assistance.