So... Gold and silver there is, at the very least 16 m lbs AuEq (at 0.70 g cut-off), possibly much more, certainly enough for a major to jump in gladly -- but at what point?
* Further assays coming up; two weeks?
* Drilling continues. "Once the remaining assays from the drill program are received, an independent assay bias study will be completed as part of an overall assay QA/QC study for the Chesapeake drill program." Does this mean that, once they have calculated the assay bias, they can infer (NI 43-101 compliant?) grades from Cambior's old drilling results?
* Process metallurgy is "difficult".
* Roasting preferred over bio-leaching. I know nuttin' (=nuttin'!) but read under miningreview.com (which also explains the term "preg-robbing") that bio-leaching, generally speaking, is more environment-friendly. Might the preference for roasting affect permitting? If I read right, the roasting option will produce lots of high-value sulphuric acid.
* Profits from co-products Zn and sulphuric acid will lower processing/operation costs considerably (enormously?).
* What are the next steps? NI 43-101 Preliminary Assessment in 2009, OK.
Then a prefeas? The CKG website says "During the last year [...] Chesapeake’s focus was to update Cambior’s 1997 pre-feasibility study." Does this mean that such an updated PFS, including the new drill results for both Main and North zones and including the independent assay bias study, will be submitted rather soon?
And then towards a bankable FS? Or whatwhowhenhow?
* How much cash do they have? How much cash do they churn through?
We are holding
we are holding
cross the waters
cross the sea |
