I'm not sure that this would as yet be economic. Unless your digging into something of higher grade than this (hopefully lying underneath the holes drilled so far), 0.5g/tonne is not going to cut the mustard. At that rate you need to roughly dig up 55-60 tonnes of dirt per ounce of gold. Using a conservative figure of $1600/ounce it equates to about $27 per tonne of dirt (not taking into account the copper). I find it hard to believe that given the location of this potential mine that they will be able to turn a profit at that. Obviously if big things are below, then it's nice to have some money rolling in whilst your digging, but on its own I'd say we don't yet have a economical mine.
Happy to be corrected, back of envelope figures only
FNT Price at posting:
15.1¢ Sentiment: Hold Disclosure: Held
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