The company has given an indicative timetable for a December...

The company has given an indicative timetable for a December restart for Paulsens. The digging at Kal East is any day/week. The stock is a buy at any time up to that period imo. Some will wait until it's super close and pay a higher price. Some are already onboard. It's a comfort thing for people now. Some funds will jump into the stock when it has been producing for a quarter. I am sure some funds are watching this with interest, but perhaps their mandates prevent them from buying it as yet. They will pay a lot more for that certainty. Some people top up on milestones.
Paulsens mill operated for 13 years. This is not a ground-up new build. This is a refurb. We already know it works on the ore type and grade. That reduces the risk. The high-grade reduces risk because it allows for volatile price and cost movements. The management has done this before. The main people and contractors are hired or mobilised.
If you are in a 1.5g/t isolated large asset, then attracting the talent, money, permit timing, and uncertainty isn't worth the risk unless gold moves even higher. The veterans in the game tend to buy cheap existing assets and build from there. The previous CEO of NST did just that with Genesis.
This team founded Silverlake, and SLR are now merging with another group to produce 500k oz pa. That is the classic industry model. BC8 is following that model because they know it works. They are building a mid-tier with a production target of 150-170oz pa. Some companies produce more ounces but they don't possess this grade. What do you do when you reach that target? They keep building, get acquired or merge. It takes too long from drilling on moose pasture to restart otherwise. Unless you get very lucky. BC8 bought these assets for a great price from a major during Covid when the gold market was quiet. Those assets are now the cornerstone restart game for shareholders. These are some of the key reasons why BC8 could raise an oversubscribed $36m plus equity raise and attract debt.
This looks like a timing play for people now. All their mills are strategic and all resources remain open. These cash cow studies are based on 50% of the known resources. Lot's to like. Market risk is always alive, so people can find their own comfort level. dyor