Above is what I read and not being a mining engineer, I had assumed that the above PFS is all good for GMD as well. Must admit I forgot about the presentation specifically mentioning the statement "no intention to refurbish..."
Anyway thing may change and here are my deduction on why Barnicoat mill may come into play to achieve ASPIRE 400: 1) Leonoro mill produces ~40Koz of gold qtrly (status quo and assume no better ore grade) 2) Laverton mill produces ~45Koz of gold qtrly and minimal ore grade is 2.0g/t.
Above means GMD is short of 15Koz of gold. I can think of two pathways to get the extra 15Koz of gold. 1) The 2.0g/t ore grade has to increase to 3.0g/t. Question is: can GMD mine such ore grade in the Laverton Project tenement? 2) I think the easier path (not based on money though!) is to activate the Barnicoat mill. Who knows a GMD feasibility study may reconfirm the above Focus Minerals PFS given the rise in gold price.
BTW just out of curiosity, any idea on how expensive is the re-configuration? Tx.
GLTA.
GMD Price at posting:
$4.61 Sentiment: Buy Disclosure: Held
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