Zenyatta 10 tonne bulk sample was comprised of 6 HQ holes at an average of about 300 mtr length ......... for about 1.7 tonnes per hole.
The current bulk sample permit application of 990 tonnes of material would require 582 holes at an average of 300 mtr length.
What's the cost of HQ drill per mtr? Let's use $100/mtr but it's likely well above that these days.
Just shy of 175,000 mtrs for a cost of $17,500,000.
A Zennanite posted the other day, let's just start the dig. Ummm, with the extensive overburden covering the ore-body ......... the bulk sample cannot come by way of dig and if the guy was thinking of dropping a shaft ......... can't be done without a full and comprehensive environmental and mine closure plan being published.
$17,5000,000 just for drilling and then there is massive processing costs to consider.
Zennanites would likely chime in with the supposed "four off-takes" will pay for it ......... fat chance as not a single gram of material has been purchased to this date and that shit is touted to be worth gazillions per gram.
I guess they could do an equity raise of 35,000,000 shares at 50 cents just to drill out the material then multiples of that to process it ........ so say $60-90 million equity raise because equity raises for them in recent years have been so plentiful and fully subscribed with extensive institutional participation.
Ahh hell, maybe they secure some of those rigs Shore Gold used on Star and Orion ........ I mean ......... who cares if the graphite is absolutely pulverized in the process ......... and everybody knows those rigs are easily mobilized at minimal cost compared to HQ holes aplenty.
Dube will surely announce an equity raise soon ......... $18,000,000 to $90,000,000 ........ easy peasy. |
