Spoke to Keno's SP this afternoon. He says Dynatec is doing its own detailed planning of operating the minesite, and at the same time, they're both having ongoing discussions with financiers! And things are progressing - slowly, primarily because of current market conditions and sentiment ...
The whole thing should come together by end of July, I'm told.
Re: your question of high-grading for awhile, I'm told Dynatec's style is to go into an orebody for the long haul! It's not likely the high-grading rumour has any substance to it - but then, in these troubled times, when no one can predict for certain when things will turn around, who knows for sure?? And yes, it IS feasible to change mining methods mid-stream, as long as one isn't too far committed in one method. SP said he'd love to go in there long-hole, but then, it depends on what Dynatec comes up with. The mining decisions are being made by a committee of four - two from each of UKH and Dynatec, so neither one can run off with some hairbrained scheme!
Meanwhile, the mining sector is getting its ass kicked; resource-based mutual funds are shutting down or merging, or broadening their investments into other non-mining sectors; junior mines and exploration companies are beginning to merge to stay alive (well, look at UKH and NDU lately - and the other day, Holmer Gold Mines [HGM] and International Canalaska [ICA], decided to merge!)
On the other hand, inventories are dropping rapidly, mines are closing or cutting back, the supply side is in full retreat! This can't last indefinitely - the longer this lasts, the more violent the recovery will likely be! I mean, life goes on! We're all still here - along with the Indonesians, the Thais, Cambodians, Philipines - we all need a roof over our heads, food, toasters, cars, bicycles, infrastructure - it's the olde mining cycle in one of its downturns. My figuring is things should begin to recover this September! (Stuck my neck out there a bit! Ouch!)
Harry K.
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