Just to save some potential confusion on current/potential revenue generation as well as funding arrangements, we could put a few figures & thoughts on this thread.
The other thread ‘Capital Raising..?’ isn’t really appropriate as there is NO CR – simply a ‘Facility’ to draw down funds (if necessary) over the next 3 years with Baycrest Capital (signed on 17 June 2013) which (importantly) holds no obligations at all to draw on ANY of the $10m. So it might never be used…
With that fact established, we can have a look at the difference in potential revenue generation based on grades, processing tonnage and percentage of g/t.
Next is the distinction between what Cleveland have 100% rights to versus 50:50 Joint venture with Edificia.
The Premier Gold Project is a 50:50 JV with Edificia
Cleveland/Edificia also share two more projects (Bau & Guarinhos)
For Bau, they’ve only gone down 60metres and returned grades of 2.49g/t – 8.7g/t
For Guarinhos, they looked at this in 2011 when samples returned showed low %gold and 100g/t Silver.
Neither of these seem to be a current priority (due to cost saving etc..) so they’re just concentrating on Premier.
The O Capitao Project is 100% Cleveland..
Much higher grades here – between 10 & 15-times higher than the Premier Gold Mine.
They’re about to commence processing from here.
There we have it in a bit of clarity – Cleveland get 50% from Premier but 100% from O Capitao
Do your own DD and check those facts though, no intention to mis-lead but I think an SP of around 80c is some way off yet – but you never know…
Cheers
Aussie
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