I had expect Alchemy to see revenue from Bryah Basin JV with Superior by potentially 4q22. Today Superior do 1q22 conference call and release updated resource estimate. Superior resource estimate knock ball out of park in spite of Superior eliminating all 400,000 oz of gold resource in all categories from Hermes and Hermes South since superior mgmt claim this bryah basin jv open pit gold at 1.9gpt is now "uneconomic" due to transportation costs and haulage road improvement costs. My opinion is this is smokescreen. My understanding is that If resource at plutonic exceed certain level Superior obligated by plutonic mine sale agreement with northernstar to pay northernstar certain milestone payments amounting to several million dollars if gold resources exceed certain levels due to successful exploration. Imo Superior claim bryah basin jv resource uneconomic is chess move to avoid paying nst milestone payments in cash. Note 100% of Superior surface exploration budget for 2022 dedicated to three bryah basin jv exploration targets. Superior drill holes to firm up resource to produce gold, Superior ain't vango. Central bore going to be an open pit mine for sure and soon. After main pit deeps where do Superior source open pit feed to cut underground feed with at mill for strong gold recoveries?
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