No the set up cost is 3 mill (roads, diesel pump etc), then the startup capital is 12ish mill, this is to carry a part of the 211mill you are quoting until it becomes cash flow positive. Once they are pulling ounces out of the ground the project begins to support itself costwise. No business on earth ponies up the total running cost at the start of a project.
Ann: Positive Scoping Study for Crusader-Templar Gold Project, page-13
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