As the gold price stands right now… there is an extra $20million in profit at Crusader-Templar based off the scoping study. So Roughly $87million(after costs) over 28 months. That a pretty robust little prospect and it’s only 80,000 ounces of the resource.
I definitely think this will be progressed into mining but there is still a few things to tick off. Once those final stages are complete then we should see a JV/toll treating agreement. Until then, I don’t mind the low cost exploration and generating new targets etc because unless a tier 1 discovery is being made, the market isn’t showing much love to explorers regardless of results and progress.
To me it seems like management are focused on conserving capital so they don’t need to raise money until Crusader-Templar is ready to go into production…. The AC drilling provides low cost exploration that keeps things ticking over in the meantime and gives the team a better understanding of certain targets for the future.
I agree it’s been a rough couple of years watching and waiting but if we strip it right back to basics…. The risk/reward is quite good here right now.
