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Originally posted by copperroad:
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They have 800 square km of land. They could drill this for years. The only thing holding bc8 back is availability of rigs and a big budget. The ore bodies are there now. Dozens of targets with probably a dozen already identified. The main ore bodies all remain open along strike and depth. In short, 1.5m -2m ounces is only a matter of drilling. This will get up and running and they will keep adding resources as they go. You don’t need to drill everything out before you turn the key on. They have resources down deep but they don’t need to drill those out more as it’s not money well spent when you can go after the surface open pit ore bodies first and add resources there. Bc8 have more than enough resource for a mine already and hence their target to produce next year. This is the Silverlake model. Bc8 does not need a big “reserve’ to get going. They have 1.1m ounce resource with an expected modest reserve anticipated imo. They probably only need 150-200k ounce reserve to kick off at a guess. Once you get into production, you just infill drill to keep replacing reserves as you go. They have bought 2 mills for expansion to 1.5m tons pa. That’s a vote of confidence in terms of ounces right there. If they develop stage 2, this company could produce approx 120,000 pa imo. You need some serious resources to keep those sorts of mills feed. The potential is there and nothing in the drilling has indicated anything negative. They are doing discovery drilling into Xmas. This is seeing what some of their new targets look like. This is how they found myhree. One of the leases they own up north has 10 identified gold targets and old shafts along strike and they haven’t even drill tested those. I personally reckon these guys will be mining this ground for a very long time. Dyor
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And don't forget that BC6's cost of discovering an ounce to date has averaged $15. Current price paid by the twenty leading international miners is $300 an ounce. You do the numbers.
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