ti drilling, page-7

Hello Slura,
I don't know how much a mill upgrade would cost, this will be the subject of engineering studies. Crushing circuit does not need much $ at all to run smoothly at it's capacity of 2Mtpa. Its the rest of the mill, leach tanks etc that would cost.

It depends on how big they want to go - 2MtPA or 3 MtPA for instance. It might be better to source a second hand mill and plonk it down near TI and the Mount to the south. They would have a nice down payment for a second mill with the current CR.

By H2 we will have much higher grade in greater supply than current and the POG should be $1600 so margins will be very attractive. Trucking 30gpt ore across the lake and up to 3MH is feasible - no problem and this could lift production substantially higher again if Dean and Chuck are vindicated down there. Ore is from surface remember. But not by H2 it will take longer to establish scale and therefore the optimum solution to processing.

But this would produce the sort of significant cash flow that might enable a mill with little dilution in future. But it depends on so much, including how fast they can get into production at a second mill.

Who knows - maybe toll treating may be a better option it would all be costed an a risk reward calculated at the time.

A mill for down south could be smaller due to the high grade - but what scale is our elephant? Is it a herd? Is it a rhino not an elephant? Only drilling will tell. All a very complex question with so many variables.

Back to work - thanks to all who appreciated my input with a T/U is a nice reward for the sharing. I wish you well in the markets.

CW
DYOR