Hi Netraam, I want to be clear, I am not sure CMM have any plans to re-treat the historic heap leech, though.... as you postulate, there could be a lot of gold already mined, just waiting to be processed. I get approx 129k ounces, though.... the recoveries might be a bit lower, so even if we look an 80% recovery rate, that would see a potential of over 100k ounces. Even if it can just be used for the initial 3-6 months of ramp up, then.... it could be quite valuable. Though the new project has pre-stripping of $79m which.... is huge, but... smart as I imagine that then means the AISC of the project is quite a bit lower due to all the pre-stripping being completed pre 'commercial production'.
Hopefully CMM quantify his after the next MRE update, which interestingly, is going to occur this quarter. I guess they want to add in as much as they can before completing the final mining study.
CMM Price at posting:
$4.56 Sentiment: Hold Disclosure: Held
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