Hey trend, you are correct, the study was done with a lower gold price, but... I am not convinced about the cuttoff, as they clearly explain, this is more an issue of them actually mining all the higher grades in the U/G... so... the ounces are gone for good. I thought I saw that the U/G was being stopped, but you are right, unless I read a wrong report or... mixed it up, it would seem they are still mining the U/G.
RMS seemed to imply they still had other options for more ore, but, nothing has come of that in 18 months.
At least if it gets put into C&M, the initial costs may not be prohibitive, but I wonder what it would cost to fully rehabilitate the whole mine...
I still struggle to think that this would meet their hurdles... They would need a huge increase in the ounces to justify it surely? $220 pre-production (plus the $20m to EVN), means you basically add $900 per ounce. ASIC will basically be $2900 AUD. Surely the capital would be better spent elsewhere.?
I guess we will actually find out 'imminently'.
RMS Price at posting:
$2.00 Sentiment: Hold Disclosure: Held
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