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clock Created with Sketch. 12/01/23
16:16
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Originally posted by Petersburggray:
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I think CYL need to quickly make run at Superior so as to grab Plutonic before the operational turnaround at plutonic become apparent to market and higher price for plutonic mine need to be paid for control of asset.... Losses at sgi since May2022 due to high aisc production from main pit deeps open pit which sgi mgmt shut down as quickly as they realized aisc was about usd$2400 per ounce gold produced which caused overall underground+open pit production at plutonic to lose money. Superior replaced all underground mining fleet in 3q22 with old fleet now parked on line in motor pool as FLOAT backup should any new equipment meet maintenance. New jumbo also added at end of 3q22 so now 3 jumbo doing development toward gold deposits in plutonic Indian zone that have been defined by geologist ET exploration campaign over last several years. These bonanza grade underground stopes that the 3 jumbo are developing are in immediate vicinity of existing underground infrastructure and the portal to the surface right next to mill. From memory one intercept in Indian zone was like 52 grams of gold over 15meters or so of width. Lots of very wide intercepts, the 15m of 52gpt gold is one of strongest,, meaning very profitable gold production going forward on account of mechinization/low labor costs/ low capex. SGI common not held by justfew insiders like VAN so cyl can't phone a couple folk to lock up votes necessary to do takeover now... sgi insiders and mgmt have perhaps 2% stake so I think CYL best avenue to get voting control of SGI is to start buying up SGI/SUPGF common at market starting tomorrow in Toronto and New york before sgi/supgf price go much higher. Ideally CYF should have already been accumulating supgf stock since mid october at 50% discount to today close.
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The market Doesn't work that way mate when their is a TO.
(20min delay)