Hello Gord,
I think its very preliminary to speak of carat value. Even if grade and value are similar to those supposed/expected at Snap Lake, the tonnage must still be great enough to be economic. Obviously, with the lack of diagrams, the work is very preliminary, at least in SUF's minds. You're correct, with much more work, and good fortune, this could be like Snap Lake.
However, given that resources are scarce, that the deposit is obviously not a large, open-pittable, easy-to-define, quick-to-production type pipe, I'd rather see SUF concentrate on areas that will lead to the bottom line more quickly. By this I mean that SUF's dough should be used for more exploration at Klipspringer, for development of the platinum deposit, for development at Camafuca, for exploration for pipes in Brazil, etc. I think this would benefit shareholders in a shorter time frame, with easier understanding of future developments.
Should Snap Lake successfully move to the mining stage, then smaller deposits like Munn may have value. And the folks at WSP may be the best people to evaluate, develop and mine this deposit. SUF should wait on Munn, or do cursory exploration work depending on their judgement, with a view to selling their interest to WSP.
After all, WSP is the only company confident about mining a dyke/sill under a lake in the NWT, so this deposit would probably have more value to them than anyone else. SUF could maintain some type of royalty, so if it did get big, they wouldn't miss out completely.
Just my thoughts,
Confluence |
