I'm pretty sure he meant including tailings. I'm guessing if they built a 1.5 million tonne CIL circuit, they might put through 1 million tonnes of tailings/year @1g/t for a bit over 50% recovery. Then they will mine old highway at around 500k tonnes/year at 2g/t for 95% recovery. So about 50,000 ounces/year. He said MRE due in Q2 of FY 2021. So hopefully in November.
He still seems very hopeful of finding more copper near degrussa though. I think they're planning on drilling deeper to hopefully find more deposits. He's still positive on Morck Well.
Your estimates look pretty accurate with the possible T3/A4 operation.
I think I'll have to buy more SFR. I can see more visibility with their projects.
If only Black Butte didn't have this legal stuff over it's head. Karl said there's quite a bit more resource at Black Butte than what they have stated in their MRE.
Ann: Diggers & Dealers Presentation, page-18
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