200,000 tonnes over 8 months, starting December. That's roughly 25,000 tonnes per month to the mill. That keeps the mill going for only about 8 days a month, which is a bit of a problem because it means Greenfields will be putting through someone elses dirt for the other 22 days. Sorting out your GIC every month is going to be quite a challenge. Nevertheless if they can put through the Cannon ore its going to be a serious winner. Possibly yielding around 25,000 ounces. At $3600 an ounces that equals about $90m in revenue. Its not a long haul to the mill, so the only questions remaining are the recovery rate the from the mill and how cheply they can get the ore body out of the ground and on the truck. Anyway, at a guess Horizon might make $1500 an ounce clear, which give them a surplus of $37 million for the project. Issues all round to be tackled, but with $40m in the offing this thing sounds very interesting indeed.
HRZ Price at posting:
5.0¢ Sentiment: Buy Disclosure: Not Held
