If you factor in the ore sorter, the head grade could be around 10g/t. Putting 10g/t grade ore on a truck could make sense economically. Would have to be trucked a fair distance though.
On the topic of the ore sorter, Taylor Collison has put a $5mill capex value, which given what PNR are budgeting (closer to $2mill), seems excessive. Budgeting $2mill would take their total capex down from $39mill to $36mill, and almost remove the need for the additional CR they mention (@$5mill) for project financing (assuming 50% debt) .
I think the boys will be working very hard to make this the last CR ever.
EGA Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
