Post by
nozzpack on Sep 23, 2024 2:41pm
Test Mining at 15,000 ounces @ Richmont Sampling rate
Test mining generally follows a sampling design that will have statistically significant outcomes.
My research indicated a wide range but generally 5 to 10 % of expected FS outcomes.
Richmont sampling design should be most appropriate for HD,as they test mined first.
They test mined by open pit , 8500 ounces out of 143,000 ounces eventually produced .
Thats a 6% sampling rate.
The 2022 HD FS estimsted that 246,000 ounces would be produced at HD over a 5 year period .
6% of that amount is 15,000 ounces.
Now, the updated FS will include Stoger , Orion and the three new discoveries that are sattelite to HD plus extensional drilling results in 2022-23.
Each would have to be test mined.
I would guess between 400,000 and 450,000 ounces would be produced over a 8-9 year period.
6% of 400,000 ounces is 24,000 ounces .
So somewhere between 15,000 and 24,000 ounces would be produced by test mining of HD + in preproduction mode within normal statidtical sampling guidelines.
Along with stockpiled ore , we could be generating $70 million in test mining revenue at current POG