Panther Resource Upgrade, page-31

Thanks for sharing. Worth noting that McGarry commented in the podcast that a pit is probably already justified based on the Phase 1 and 2 results alone. I agree with what you say regarding amount of dirt to shift, which would raise the cost of producing an oz in comparison to the shallow low-grade gold coming out of Lost Dog, all else being equal. However, given the weighted average of the drill results from P1 and P2 is around 15g/t, there is definitely some upside in the grades to offset that additional cost. If (?) we can use the weighted average as some sort of indication, then there is around a 7:1 favourable ratio there vs the Lost Dog low-grade. Drilling at Panther, although deeper than Lost Dog, is still quite shallow relatively speaking, with the majority of the higher grade results occurring between 20 and 30 meters, and would still warrant an open pit as opposed to underground mining.

https://omny.fm/shows/the-crib-room/graham-mcgarry-beacon-minerals-core-components?fbclid=IwAR2Wx8mh1S5BPYzq6A0l_S9viytuMImvkaAylRJJv6M4U74LKpSJIqU6Eso