new calcs.. How I see it.. Kaiser right now:0.3g/t cut-off -...

new calcs..

How I see it.. Kaiser right now:

0.3g/t cut-off - 270Mt @ 0.54g/t AuEq
0.4g/t cut-off - 164Mt @ 0.67g/t AuEq

Kaiser will mostly be Open Pit and there is some UG resource.

My assumptions:

Out of those 270Mt about 164Mt are taken out as part of the 0.4g/t cut-off and that leaves us with 106Mt with 0.3g/t cut-off. Let's assume only 70Mt will be open-pit minable and since the grades are likely to improve I give this resource 0.56g/t AuEq.
That gives us 60Mt at 0.56g/t AuEq for 1.2Moz.

The 164Mt with 0.4g/t cut-off to improve to around 170Mt with improved grades to 0.7g/t AuEq due to better than expected infill results.

Total Kaiser MRE to be around 240Mt with average grade of around 0.65g/t AuEq for around 5Moz.

Then we are looking at global resource of around 823Mt at ~0.6g/t AuEq for around 16Moz.

One of my scenarios... be nice if it plays out. Kaiser will be very profitable Open Pit in the first 5-7 years which will probably pay for the scaling up of the plant and rest of the LOM profits are free.
We only need JV partner with right experience to take over the project and ALK to end up with ~20% risk-free stake and around $200m cash payment to fund growth (hopefully under better management) - organic and/or via m&a.