It is high grade but there is just too much risk to it.
First and foremost is they can not get the recoveries. It can be as high grade as you can imagine but if you can't get the metal out of the dirt the grade is irrelevant. Having said that perhaps a different team could do a lot better. I mean back in the 40s/50s it was producing no problems.
The second issue - its UNDER THE OCEAN. G6Ms mine plan required them to build a Water Ingress Membrane Wall to mine the open pit fully. They decided that would be too costly so pivoted and were planning to make a temporary ingress wall and then a main one. They built neither. The underground is full of water and located directly under the ocean. part of the open pit is under reclaimed land from previous mining operations if I remember correctly.
Third issue for EQRs team is that the ore is not suitable for sorting.
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