Ok so using 10 g/t as a conservative estimate, and assuming mill production only 16 hours per day, that gives annual profit of $7.2 million.
The question regarding ore quantity is interesting and will take a while to estimate. According to the JORC, there is 4500 tonnes at @15.4 inferred (but this is only a small section of the total deposit at Cascavel, not to mention all the other lodes. Plus we already have the tailings sitting there (Onespeed assumes 40,000 tonnes, I don’t know how to calculate this).
If the mill was processing 219,000 tonnes per annum, those tailings would provide feedstock for roughly two months. Meaning the mill could feasibly generate $1.2 million worth of gold by late April.
Feel free to critique.
OGX Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
