nope, the open pits doesn’t hold much. We were only suppose to mine it out max 2 years including rehab and that’s all the open pits.
the idea of the open pit was to provide cash flow to get 2/3 of the 12 million oz as a jorc resource, and start UG without much debt or external finance. Reason why we started with small scale and even initial cap raise were small chunks, 1-2 mill.
6-8 million oz of the 12 million i believe is mineable at current gold price, then increase as the gold price goes up to 2500/oz
Ann: Trading Halt, page-34
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