They must have a new processing option for the ore. Arc wanted to use cyanide but it’s banned in Slovakia now, so my guess is they’ll either ship out a concentrate to a nearby processor in another jurisdiction or there’s a different method of extraction. I have no idea of the engineering but read somewhere how autoclaves are often used in ore which is high in sulfides because the gold binds to sulphides when using leach liquor in heap leaching extraction, which is also cyanide based. I don’t think they’d have bought this option without having a new extraction method lined up, probably in China given our new TD and Wuxi Baichuan being a substantial holder. I think the gold price is going to go up because of the global political situation, Hong Kong isn’t pretty for China right now and they likely see gold going up too in my opinion. We are partnered with a large Chinese chemical business already and our TD is of that ethnicity. Wuxi Baichuan paid 18c for their ten percent stake in the company and haven’t yet informed us of any on market buying, so they’ll either have to tip in to maintain their position in a capital raising or perhaps we’ll be looking to China for the entire allocation. In my opinion.
MTC Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
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