Only 2.7 million ounces in the M &1 categories, yet they will produce 5.3 million ounces.
You don't include Inferred even in a PEA.
This is largely an underground mine of modest grade requiring 10,000 ton per day mill costing close to
$1,8 billion cad.
IRR at just 24% is very modest even with including Inferred.
And the AISC is also a joke.....Underground mining is very expensive ...so the actual IRR is probably negative.
The cheapest cash cost gold mines are almost all open pit.
The cheapest cash cost gold mines are all high grade open pit.
I am not aware of any open pit gold mines with grades above 10 grams and very few above 5 grams .
Channel sampling grades of Keats Trench is 25 grams per ton .
Channel sampling grades is the usual expected grade for bulk mining tests.
K dished out $1.9 billion for GBR plus another $500 million for New drilling.
Any realistic offer for QWN would have to be in excess of $4 Billion ...
From Kinross' September 2024 PEA page 2 https://s2.q4cdn.com/496390694/files/doc_downloads/2024/09/Great_bear/Kinross-Great-Bear-PEA-TR-REVISED-FINAL-Sep-9-2024.pdf