Grade is on thing, the 2g/t number is for open pit mines, and you can have a very profitable mine with that grade. Once you go underground you need higher grade to compensate for higher mining costs. Grade and profitability are not direct relationship.
Really you need grade and strike and manageable mining and development costs. Say DGA find the targeted offset ore body, it's going to be 500m deep to start with. Is there existing infrastructure in place or will they need to develop a new decline? All costs money, but if the grade is 15g/t as was historically mined, them it will stack up, if it extends at depth as proposed. Lots of "ifs" here.
Seems fairly priced now for some exploration success baked in. Is Bellevue the next paulsens or the next Andy Well?
Ann: DRAIG RECEIVES $200K GOVERNMENT CO-FUNDING EXPLORATION GRANT, page-6
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