From a mining point of view I would much prefer to mine 1m oz at av of 3.5gt than 2m oz at av of 2gt which GRY have, reasons below
ore bodied closer together, less trips to mill due to grade, less deisel burnt per oz of gold.
PIR will have a better strip ratio due to ore being closer to the surface (loads of waste to ore) 20-1 is reasonable, PIR should easily beat this.
possible high head grade PIR @ 3.5gt, milling costs will be around half of GRY @ 2gt, milling costs about same per tonne to put through the crusher, if head grade is higher costs are lower, also percenatge of ore free milling excellent.
PIR has 100m less shares on offer than GRY
the leases under application above FMZ could also be a game changer, what would happen to PIR's share price if there is a discovery directly along strike, would be very nice to get these leases
$2 DOLLARS IS STARTING TO SOUND CHEAP
I owned both PIR and GRY for quite a while, watched GRY and PIR from early stages and think PIR has much more potential gold descovery wise, the only thing is GRY has 61m in cash, hard to beat that
71c4
PIR Price at posting:
74.0¢ Sentiment: Hold Disclosure: Held
