CTP = Central Tanami Project which NST (Northern Star Resources) is paying for all exploration and redevelopment of the existing plant (hopefully soon).
This is the existing plant at CTP:
In late 2018: The company (NST) drilled 23 reverse circulation and diamond holes for 3196m within the CTP mill site area, and earlier this month flagged positive results given the visible gold encountered in the core.
NST have also bought Western Tanami from TAM and a whole heap of leases all around the area.
From early 2019:
"..In accordance with the terms of the HoA, Northern Star is the manager of all JV activities and is required
to ‘sole fund’ all JV expenditure during the period up until the commencement of commercial production
(“Sole Funding Period”). JV expenditure includes all costs in connection with the activities of the JV,
including:
• management, exploration, evaluation, assessment, development and mining of the JV tenements;
and
• refurbishing the CTP processing plant and associated infrastructure.
As previously announced by the Company, Northern Star has not achieved “Commercial Production”,
which Northern Star has agreed to use best endeavours to do on the terms set out in the HoA, including
within 3 years of completion of the HoA. Given the Sole Funding Period has yet to expire, the Company
is not currently required to contribute any funds towards the CTP or JV activities. Northern Star is
currently required to carry the entire expenditure obligations of the CTP pursuant to the JV sole funding
arrangements.
The Company remains focused on the exploration, assessment and long-term development of the CTP
and is currently in discussions with NST regarding achieving the objectives of the HoA.
NST has confirmed that CTP economic evaluation remains ongoing, and that in its ten year production
profile the CTP remains a potential organic growth option for 2020/2021, assuming conversion of
existing and any additional Mineral Resources to Ore Reserves to sustain economic parameters for
refurbishment of the CTP plant.."
I have highlighted this last sentence as its what it all hinges on and the higher the POG (Price of Gold) goes the more likely that NST's economic parameters will be satisfied and then its away we go..(hopefully)
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