BH, the resource is defined, its certainly in the emerging producer category. hopefully it emerges when the gold price is a lot higher than now. to be honest I'd rather invest in an emerging producer now than a producer, less risk as many gold investors have discovered.
good point on the grade. normally I wouldn't invest in alow grade open pit but:
the reason I back it is because the labour/power costs in Canada are "cheap". Cheap compared to Oz and Africa
top class managemnt with a proven track record developing low grade open pit mines. The lads running this show ran Plutonic in the early 90's
the grade appears to be materally understated. You can review some of the release to get a feel of the understatement.
so despite the grade and cost its a robust project
also be aware that there are other defined gold resources in the area ATV is developing (not owned by ATV) which are to low grade for underground. No one ever got around to doing open cut so ATV is in the box seat to take % of these projects later.
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