They fortunately have Mt Boppy with some higher gold grades below the current planned open pit which could be the focus if Wonawinta proves uneconomic.
In any case in the first instance at Wonawinta they will be treating the silver stockpile (no mining costs). It probably is economic as long as the silver price is strong. The aim is to identify some higher grade areas of the silver resource which they or may not do. I agree with you the current grade silver resource of 42 g/t is not inspiring, though there are potentially some lead by products.
The point is they have options that generate cash to finance the exploration for both gold and silver and can then decide what is economic. I view it as a low risk exploration play as they do not need to keep coming back to the market for cash to finance exploration.
They fortunately have Mt Boppy with some higher gold grades...
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