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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: LoneClone2/8/2022 1:49:43 PM
2 Recommendations

Recommended By
Anchan
onepath

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One of the mistakes made by the former management of Centamin aka CEE with respect to its Sukari gold mine in Egypt was to contract out underground mining five years ago. The new management did a feasibility study on returning to owner operated mining with positive results. As a result, now that the contract has run out, they are carrying out this transition, including purchasing the existing mining fleet. According to the FBS, this will lead to lower costs and greater flexibility as well as guarding against the grade control issues that have plagued the mine the last five years.

Mind you, management is not averse to contracting out certain jobs as required. They just signed a five year contract with Geodrill for underground drilling and related services.

Message 33699022

I-80 Gold aka IAU continues to pull impressive drill results from the underground portion of its Granite Creek gold project in Nevada, which is slated to become its first production centre later this year. Step-out drilling in the Ogen zone, beneath the existing underground workings, came up with 7.4 g/t Au over 73.2M including 13.3 g/t Au over 13.1M, 20.3 g/t over 7.5M m & 10.1 g/t Au over 17.5M in one of the deepest holes yet. As well, IAU reported a number of high grade results from the Mag Zone located underneath the existing open pit, which will be brought back into production in the coming few years.

Management is pretty darn excited by these results, and so am I. I really should add to my stash of shares.

Message 33699044
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