Rosco,
In my view biggest issue with PSV is metallurgy.
I believe the project has refractory ore hence will require bacterial oxidation to get good gold recovery
Whilst bacterial oxidation is now more common in the industry than it used to be, there are many pitfalls with the process, mostly relating to geological variability within the orebody.
This is what sent beaconsfield under, which incidentally had grades near 16 g/t compared to PSV 7 to 8 g/t.
However Beaconsfield also had bad ground conditions and heaps of water. Beaconsfield also never quite had the cash required to put a rolls royce plant together, which is needed for bacterial oxidation.
I agree with you PSV management has a good rap. However any project with underground operations as well as consideration of the refractory situation needs careful consideration of the increased project risk hence for us the increased investment risk.
acturtle
.
PSV
perseverance corporation limited
