My preference, especially when companies can sell product at all time highs as gold miners can do now, is to turn on the cash taps as soon as possible. I'm not sure how much Black Cat is giving away to the processing firm and the mining and hauling contractor to make this happen but in principle this move gets a big tick from me. Once the deal is bedded down it crystallises at least $30m of cash inflows within the next 18 months. Decisive, strategic, transformative: all in all, great stuff!
An added bonus is that Black Cat effectively gets a decline to the portal of the Myhree underground mine thrown in for free! Not quite the same but Spartan is budgeting $38m to put in an exploration decline towards the guts of their prospective Never Never underground mine.
My preference, especially when companies can sell product at all...
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