Tudor Gold Corp V.TUD

Treaty Creek drilling costs

[rockport1]

For a 10,000 meter program at Treaty Creek it will cost something around C $6 million as estimated here:

Drilling      $250/m  = $2,500,000
Assays     $  50/m  = $   500,000
Field staff  = $1,000,000
Camp  =  $350,000
Helicopter = $1,500,000

Total = $5,850,000

The helicopter costs could be off because this is an estimate of how many hours are needed. It should be close based on the past costs for Treaty Creek.  Current rate is $1900-2000/hour.  I estimated just under 800 hours.

[CaptainE]

You got game Rockport. Always appreciate the posts along with a few others here. 

[Larry60]

RP, Good effort.  Sensible.  Broken down. BUT, its quite simple.  Look at TUDs 2023 FS.  In cash flow statement they show they spent $25.5M on exploration for the year (which is really 2022 as they have a March year end). They drilled about 40,000 meters of drilling.  So call it $600 and change a meter INCLUSIVE OF ALL COSTS including fixed costs.   Costs

[rockport1]

The numbers are solid.  The field staff, camp and helicopter costs might be lower since the drill pads are already set up, so drilling might be quicker than my estimate.  

[Larry60]

rockport, apologies, you are pretty spot on (also in line with actual costs I posted).  I confused your estimate with JS (he said $250, but $500 if you build in 100% buffer!).  Id suggest that a 10,000 program would come in higher than 2022 and 2023 as those were large programs that helped difused fixed costs.  In any event, goo breakdown and on the mark.