I agree @speculator101 on the small u/g operation ... the best time would of been in conjunction with the Bakers Creek milling to have a small team bogging out those remnant draw points
20 samples from draw points on 1700 and 1650 Levels returned weighted average grade of 5.7 g/t Au, 1.8 g/t Ag and 0.5% Sb
and blowing the existing developed stopes they reported ... that way your not under pressure to maintain production to match the mill throughput ... a steady low cost operation with existing equipment. When you have enough material just do a campaign to mill it.
The next problem I see is the low cashflow this qtr in addition to the Hillgrove wind up costs, the mining rates at Far West qtr 2 and then the potential those 3 levels at Far West not coming back into the mine plan shortening LoM, if they do they certainly will come at a higher cost to get back in there.
They don’t have the financial capacity to fully develop Hillgrove so a partner or sale is probably the most appropriate way forward ... that previously rumoured $30m offer would look good now in the bank account.
Wish you the best of luck.
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