<: I'll NEVER pump it because I don't believe in the story>
Do you mean you don't understand the story. With statement like this, I am not surprised:
Yes, .03 gpt at 70 metres depth of SILVER is economical to mine, open pit wise. With silver at $5 and change per oz,(or $0.05 per gram)that is a tremendous contrast to 1gpt gold, let alone the other minerals that are in the overburden and economically extractable.With gold currently at $385T/oz making 1 gpt approximately $12.60, well, I believe I've made my point.
<The pre-feasibility study was claiming profitability at silver $5.25 price...>
Sure but what you don't know is that it was also economical at $4.50, altough to a lesser degree. Furthermore, recovery rates have improved a lot since that feasibility study, enough to compensate for the drop in silver prices. At $4.75, they will get 10% less for their product, but they will likely produce 10% more thanks to better recoveries.
For your info, the starter pit ore at BAY is worth US$22.50 per ton and the high grade silver as well gold can be recovered with a recovery rate of between 80-90%.
Now do you know how it cost to mine and process a ton of ore in a large open pit heap leaching operation? If you do, then how can you claim that this is not a valid and economical project? |
