Nice find thanks for that. See what didn't make sense to me is that they are obviously going to be milling oxide ore so their existing setup can do that and this $50M number seemed pulled from the ass so to speak as the stripping shouldn't cost that much.
However I believe the capital refurbishment and floatation circuit is for processing silver SULPHIDE ores, not the oxides. And I believe they have 10M ounce of oxides over 100g/t they are mining first anyhow?The sulphide "upgrade" for Wonawinta then isn't necessary in the short term but more about expanding the operation to process all ore types at Wonawinta. I suspect the reason that is on the cards for 2023 is that they suspect to be highly profitable in 2022 which they will be with the upcoming PM boom.
This could also be a little tip of the hat, that their sulphide drill results on the Bimble line are highly impressive.
MKR Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
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