Ann: Final Ore From Jeffreys Find Project To Be Milled In July, page-77

I am more interested in the Burbanks Mill NOW and what options that actually presents given it's location.
Equating it's value to buying a pit already licensed and ready to mine at $4m with extra tenements attached cost says to me there must be as quick a return on just that Capital invested same as that pit would provide,or it is worth less than what will be paid in the immediate scheme of things.

Given Aurics stated aims and acquisition strategy I would go with a quick return on investment,given the pit it sits hard up against the rim of and the grade of ore that was extracted from it.
I wonder if it's a bit like the NST problem with the super pit.To expand the pit life and size they needed to get the lower grade ore stockpiles moved above it.
To do so they had to expand the mill to handle the milling volume to do so profitably,or even better build a new mill so the pit could extend further towards where the mill was.
So applying the logic of 3-4yrs return of Capital and a good profit to boot,where is that actually coming from.
I doubt it is from paying many millions more to upgrade or replace the mill?
Controlling The power and water in the area if someone else mines below the old pit?
The tailings dam?
The actual associated site tenements mining potential of the pits resource potentially running underneath the plant tenement area?
Quick bucks from some ore stockpiles that may or may not still be sitting onsite?

IMHO - I just don't see Auric making the equivalent of a longer-term bank deposit of $4.4m at no interest,with potential greater expenditure in the tens of millions,just to have future mill access and the hassles associated with running a contract miller longer term.
None of the ore they plan to mine over the next 3yrs would see this mill,even if they initiated plans to upgrade it TODAY.

But they CERTAINLY KEEN moving from due diligence to BUYING subject to conditions precedent,instead of extending the due diligence period,so no-one else can nip in.

Regards.