I will just play the devil's advocate.
The decline development started at the beginning of May 2021.
The first 20,400 tonnes was milled early Jan '22, so there is a large cost in development.
The agreement was to mine down to level 3, maybe FMR was trying to recoup development cost.
The grades improved slightly with each campaign (1) 0.90 g/t (2) 1.48 g/t (3) 1.71 g/t.
The last milling 24,000 tonnes for 1321 ozs * $3,000 = a$3.96m gross.
The final number's from FMR for the trial would be interesting.
Also FMR had an option to mine Burbanks Nth a few months earlier, hopefully this will be mined shortly.AIMO.
GSR Price at posting:
0.7¢ Sentiment: None Disclosure: Held