Yes well and truly I reckon. The open cut mine planned for Cameron Lake has already been shown to be economicaly viable. Ann below:
POTENTIAL POSITIVE CASH FLOW OF
>US$156 MILLION FROM STARTER OPEN PIT
AT THE CAMERON LAKE GOLD DEPOSIT
Highlights
Preliminary results available from a conceptual open pit mining study into
the development of the Cameron Lake Gold Deposit.
Conceptual open pit mine design developed on recently recalculated
JORC-compliant resource block model.
Postulated starter open pit would see mining of 5.0Mt at 2.09 g/t gold to
recover 310,000 ounces of gold.
Indicative starter open pit operating cost of approximately US$595/oz
gold.
Indicative undiscounted positive cash flow from starter open pit mining
operation of >US$156 million.
The other 700+ ounces so far are down below and I cant see why it wouldn't prove economical.
Looks like some insto's might be taking the chance to lighten some of their load with these 50k sells. There is always something to hold us back.
Nice rise today though.
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