Trial mine should be significantly cashflow positive IMO but I wasn't thinking anywhere near total capex levels.
Think say 10,000 tonnes.
Head grade from surface (very low strip ratio to 5 or 10ms depth compared to relatively high strip ratio for scoping study to 100ms) could be at least 20g/t especially now with GH thrown in.
Average vein grade is 24g/t and if they exclude lower grade areas for trial mining, 20g/t may be conservative.
Cash costs $300?
$1400 margin.
Say 87% recovery, (88%-97% in test results).
10,000 tonne at 20g/t with 87% recovery is 5,437oz.
At $1,400margin, gives $7.6mill cashflow.
$2mill to hire and transport a plant (which is around $15mill to buy new) seems reasonable.
Leaves around $5mill profit. No tax with forward tax offsets.
That boosts cash balance for a while or at least holds it steady over that quarter.
The $5mill could be quite conservative, but is still significant.
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