I recall the projected cost of production for Q4 being $529, which offers a significant buffer against a dip in the gold price. A great many mines around the world would have closed down well before PGI's operations become unprofitable. More importantly, what will the production cost be if/when Panterra start importing concentrate for processing? Early guidance was very positive regarding potential grade and % recoveries and we were also given a hint at a possible tripling of gold production. Early days yet but production costs per ounce could end up being quite a bit lower still.
Anyway, there are 3 big boxes waiting to be ticked: 1. Proof of LL plant working well at 100% capacity, 2. Deal signed re. concentrate importation to LL, 3. Refinancing deal to flick the Macquarie monkey off our backs.
All likely to happen sometime over the next month or two -- though I wouldn't be surprised if a concentrate deal takes a bit longer.
Once the dust has settled, I wonder if BJ will re-consider a TSX listing?
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