Informally, I've not noticed labor pressures at Wesdome's nearby Eagle mine. That said, Wesdome management is IMO absolutely top-flight (as is Silver Lake's FWIW). Eagle's AISC has been a function of production ounce variations more than other factors, in my informal impression. Covid has only impacted the operation by limiting e.g, number of personnel in the shaft elevator at one time. I had been watching the covid rate in that health district (Northern Algoma) until late Spring, been pretty clean. That said, I believe the mine that DID have an outbreak was Harte.
I am 'shooting from the hip', with the above. It will take me two +/- days to read through the relevant annuals and quarterlies, plus comments on CEO.CA posters who I respect, and digest things. Just trying to provide feedback. @economicAlpha (Luis) one of the strongest CEO.CA posters, owned Harte in the 2018 time frame I think.
My initial impression of the acquisition is positive. Preliminary sense is Cool Hand pulled another good one off the 'distressed asset pile'. Got some $1.795s.
Harte's Sugar Zone is a new mine, first pour Oct 15 2018.
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- Ann: Acquisition of Harte Gold Credit Facilities
Ann: Acquisition of Harte Gold Credit Facilities, page-27
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