Comparing to BGH with 420,000oz @ 2g/t next door, its JV terms where:
* 50% stake in project to JV partner
* $275,000 cash + $250,000 placement,
* Incomer to cover all Feasibility Cost (from Scoping Study to FS.... say $1.5m?)
* Incomer to use its 50% to get funding for a Brand New CIP Processing Facility for .... 500ktpa throughput!?.... That's > 30kozpa production of gold for the JV.....
...
Then comparing to SAR buyout of SBM's Kings of Hills..... $3mil cash for 295koz....... (barried 1000m underground)......
Interesting times at Leonora....
RCF Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
