For gold explorers IMO gold price has little relevance. If the project is borderline then it simply won’t go ahead, it needs to be very attractive before you’d even be able to get financing. When you make a decision to mine a deposit, it’s not based on the gold price then and there but likely more the average over the last few years and there’s significant downside scenario of the GP factored into this decision. Even financing a mine, your looking at hedging a portion of your gold production so you essentially don’t go out of business in the first 12-36 months.
Just ask yourself, prior to the pandemic what was the GP running at? TSO has plenty of gold out there, if one deposit is indeed borderline, it wont take much to prove up another deposit and prove very much economical to mine IMO. Far more upside risk here than downside, they have proven the gold is in the ground just a matter of how much.
Don’t know why my reply thing disappeared, but that was in response to @DFthegreat
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