hey Joel, yes, reduction in grade is big, but... 4.3g/t is 62% higher than Big Bell. 4.3g/t is approx 80% higher than the average grade of all the ore going into the plants. When you are turning your entire company into an U/G miner, you need base load ore. The synergies of Great Fingall are not just the ounces, but the location, CUE road upgrades, Big Bell just up the road etc.
Also, they are focusing on larger, bulk mining U/G versus the smaller U/G mines. I really think they plant to duplicate the size of Bluebird scale wise, plus, the grade is higher than Bluebird. Great Fingall MRE could produce at grades about 15% higher than Bluebird, but hopefully the reserve creeps higher.
Will be very interesting to see what the upcoming study shows in terms or initial capex, IRR etc.
As for BB, I think that is already a given, so.... again, more synergies if they undertake both projects.
WGX Price at posting:
$1.51 Sentiment: Hold Disclosure: Held
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