Big chunk of 4Moz resource is on surface / near surface and carries a grade of +2 g/t gold. So is already oxidized and can be easily processed. I believe that current drilling program is running along the entire length of the deposit at the stage where it is "on or near surface". This could easily encompass 500,000 to 1,000,000 ounces of gold contained in completely oxidized ore.
This near surface stuff will be low cost and easy to process.
Deeper stuff especially in granite (which constitutes about 30% of the resource) will be difficult to process.
CDV will prosper, but on a smaller scale and is now heavily oversold. 0.5Mozs - IMoz ounces will generate $650M - $1.25B in revenues.
The lemmings have all fled over the cliff and the panic merchants reign.
CDV Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
