In the Game of Mines these raw figures are important. Inferred vs Proven resources play a big part in the data that the Canaccords et al use for their forecasts. Our northern friends are turning their deposit into swiss cheese at these depths to confirm the same things.
In the end, I would expect that the GXY strategy is to use and exploit the easy stuff at Mt Cattlin. There is plenty more at the bottom of the same pegmatite at the bottom of Dowling and MTCDD3 provides a viable continuation as well as the surface stuff to the east to be scooped up.
Mt Cattlin, can be used like a stick of dynamite to get the other assets moving. Once it proves to be uneconomical to further exploit it then we can simply train our sights on the next low hanging fruit of the next assets. We are not encumbered by a lack of options at GXY. As you point out - we are entering a phase of high demand/price - and we have the accelerator of profits and assets that could potentially be converted into cash. Mt Cattlin is expendable ammunition.
Mt Cattlin can simply pay for the other assets - in the very loosest of profit/build cost figurings -
2 years for Sal de Vida. 1 year for James Bay.
That it will outlast both these financing missions and possibly out-perform the above estimates, producing for, at the very least, 10 years or so at a higher production rate is simply a bonus. It wouldn't make any sense to sell Mt Cattlin at this point when it can underwrite SDV/James Bay with its cash-flow while other companies CR to establish their first mine.
Sal de Vida is the asset that will take Galaxy to the big league.
Mt Cattlin is just the starter dish.
If James Bay proves to be the better, faster and more productive way to expand our hard-rock than move a mountain off the next repetition then we can refocus on the huge surface laying deposit there.
We can either come back later for the harder stuff or simply continue to double-down on Sal de Vida expansion and other new acquisitions.
Good luck to all holders
GXY Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
