Sounds like there has to be a catch somewhere.
If it's so good why haven't you been able to finance it before? If it's that good, anybody might want to put the money up. etc etc. etc.. stop me if you have heard this.
Give me some negatives. Unremitting positives sound boring.
What's out along that fault? Has to be a huge open pit in that desert. Why not? Squint at the map and then at the strike, undrilled. Can't you feel the potential? None of this 20 ounce 6 wide inch crap, that is just the feeder zone to the splay fault where that zone anastamozes all over the doggone place, just like Poste Betze did. Has to. History must repeat itself. Where is Bob Smith. Let's ask him.. oh darn, kicked it. If only he were alive. He could dream up the right formula for Pennaluna to want to sink 10 mill into it.
I have heard of a few like it, B.I.O.N. All permits? Does that include mining license and mill? All infrastructure sounds like that but I thought I would ask.
I know a couple like that. Ore in place exceeds exploration and extraction budge. I would hope so. Generally if you are going to start up it should exceed that budge by a few times. Perhaps 7 to 10.
Another key point is the metallurgy. Is it free gold, or massive sulphides...i.e. you have to sell the con. Makes a tad of difference as there are losses and charges to selling the con. Not a show stopper by any means, it depends on penalty/credit metals. How drilled off the rest of the body is, changes economics. Is it narrow vein underground? Sounds obvious that it is, but I thought I would inquire. Perceptions of labour problems inherent in underground extraction often cloud the issue etc., etc.
Highest grade ore ever shipped. Shipped meant milled elsewhere.. does this mean refractory or high sulphide?
I would not ship very high grade ore, if it could be smelted unless it were refractory. I would think you could lose too much. I would try to smelt/pre treat it myself. Aqua Regia salts should do it. Should break down most anything. Need stellite or nylon tanks, or ceramics. And then electrolysis.
I take it the ore concentrates and then you ship it. That makes sense, as most people would not want to handle a sulphide con in-house. Roasting is out of the question for most people, even the biggies, autoclaves sound too expensive and acid pre treatment is a bitch too. Never mind the Peruvian Indians did it, it seems out of reach for the science and perseverance of most mill men. Too highly specialized, they would feel.
Highest grade ore as far as I know was Goldstrike Nevada, which was 700 ounces per ton gold a the surface. They stopped it in 1850 when it fell to 50.0 oz/ton. It as however refractory. It formed the basis of Barrick's Poste Betze open pit which treated the refractory ore in an autoclave.
The main large nugget the underwriters are looking for is the free stock nugget, with warrants attached and the open pit hugie rumour nugget that will give them a ten banger insulated against risk. They can't make money on small productive story paper. Your profits aren't their profits. You need a real feasibility and a debt house. They do exist, but I guess you are miles short of feasible, no matter how attractive the pods of gold look on paper. It could attract capital in some places if it had defining drill holes. If it drills. It sounds more like it mines rather than drills. Small mines are a bitch. I know quite a few, and with ore over 1 ounce in a lot of places. Needs a special deal.
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