Hey SWOL.
I just appreciate the debate, as in reality, I don't know a single person in the RW who actually has an interest in investing in this sector.
So... its HC for me.
Absolutely, DEGs project has some different met that means higher capex, but... interestingly, proportionally, not a big deal. $1 Billion for 550k p.a versus perhaps $220m for 100-150k. Just a ball park figure for Mt Gibson at this stage.
Mt Gibson does look to have a lot of ounces, though... I am unsure of just how big they will want to go with the plant. To produce 150k p.a after recoveries of 90% at 0.8g/t, they will need a 6.5mtpa plant, which... is not much smaller than DEG! I look forward to seeing what CMM eventually decide on.
Fair point about the Karlawinda reserves, though, even with the upgraded number, they can only produce 120k p.a for 10 years, the last 1-2 being low grade etc. GORs current mine life is 10 years, with.. realistically, another 5-6 years that will be included when they feel like it (sort of like CMM and their resources in the main pit that are not yet included).
Interestingly, just to add to the discussion, GOR hit a milestone where they now receive a further 1.5% of the J/V production. Small, but... it will add to the bottom line for the rest of the projects life.
If CMM are able to increase the grade at Mt Gibson, and achieve 150k or more, then perhaps they will indeed pip GOR at the post. Though I wonder if they will prefer to start smaller scale, with optionality to increase the throughput etc. I just get the impression that CMM want to get on with things as soon as possible.
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