The quote is from an anonymous hedge fund manager. It's right there in the story.
Let's put some numbers to this:
Stockpiles were 5.4m tonnes for 80k oz (0.46g/t) as at 31 Dec.
If mill shuts at end July that's c3.75m tonnes left unprocessed (2.8mt/annum capacity).
I suspect they would be processing highest grade material first so grade may be down to 0.42g/t by time ends.
At 90% recovery you're talking 46k oz lost.
At $2,700 you lose $123.5m of revenue.
But you have to process 3.75m tonnes. I can't imagine costs are cheap in N.S.
At $30/t you make $11m pre royalties.
At $25/t you make $30m.
GMD shareholders own 8%. So SFA in grand sceheme of things either way.
Ann: Minister response to in pit tailings environment assessment, page-9
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