Ann: Robust Phase 2 Scoping Study for the Estelle Gold Project, page-92

they should release an option study based on heap leach. that would be the ideal bottom baseline. to get all cohorts of investors onboard.

think about it... it is a hard sell to pitch to instos and corporates based on the current processing strategy. ore sorting isn't a new innovative tech, it has been around for awhile. with no open pit gold mine using ore sorters, there is no benchmark to assess against. and even if there was, instos would want to study multiples, not just one.

Management can scream and carry on all they want about how it'll work 100%. but everyone including themselves know that isn't true and is a large risk. Especially for the financiers. What is the first 2 years of grades reconcile at -25% below the study mill feed grade? for simple conventionally mill processed projects in WA there are always problems. CAI for example and even GOR has problems with much lower grade fed through the mill when they first started. Both encountering issues of over -15% to -20% lower.

I believe most here in the early days were adamant that korbel was going to be a heap leach operation and blasting everyone for not knowing what heap leach was.