First kudos to NVA for their success at Korbel and Snow Lake. These are valuable assets that we developed quickly and inexpensively.
Now for the but, I have seen the number of 100,000 ounces a year being produced from eventual production, if you back calculate based on current resource grades you are looking at moving 30,000 to 50,000 tonnes of ore and waste per day. Even with reasonable success from ore sorting you are still looking at a convential mill of at least 3,000 today. With the arsenic, tailings will be problematic given the topography. Generated power will be north of 30 cents a kW. Previous management owns 15 percent of the project which I believe is a carried interest, which will have to be renegotiated. I estimate CAPEX will be north of 1.5 billion. I believe this project is at least 10 years out. No one is going to give the current management team that kind of money. But 9 million ounces will attract attention from the right company to buy them out.
RPM is the wild card and I believe will save the company one way or another, it has the potential to be a true world class discovery.. I predict more short term share price pain and plan on buying when sp dips below 60 cents, too many ounces not to.
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