@jinvest88
There are high grade zones and a high grade core at Ternera but the deposit on average isn't high grade.
It has the fundamentals to make it potentially a really low cost opex mine. Such as Simple Flowsheet, high and fast recoverable gold, close to port and other infrastructure and access to strong mining workforce.
At the end of the end, for a business, it's all about maximising profit on ouput so the lower the Opex & AISC the better. If we are able to achieve an economic cut-off grade of 0.3-0.35 g/t and average 1.1-1.2g/t of recovered gold, it's going to be a very profitable operation.
Ternera Alone has the makings of a solid 1moz reserve future deposit. We are not there yet. But it's very achievable as the majority of the mineralization within the pit was not included in the MRE and drilling post MRE indicates that the pit resource has filled out substantially. Recent producers with 1Moz reserve deposits are valued between $600Mil-$1Bil. CMM, EMR, FFX
The multi-million ounce target is going to come from the success of drilling at Toro Blanco, Drone Hill & other Targets yet to be explored. We don't have confirmation yet, however, all other work done to that indicates the potential there, we just need a couple of drills to confirm. If confirmed, definitely a step change in scale and potential re-rate event catalyst.
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