This news sets up the pfs for a 2024 announcement and concludes ALL the project enhancements value-add initiative set out by Elmer and directors. Elmer likely sticking around now since we have to wait 6 months for the meta report anyhow, and after the 2023 data is completed....this sets Teck up for a pfs report. When you add up the program costs from 2021,2022, 2023....you magically hit the 23 million needed for the pfs commencement. Elmer likely told Teck we need a large program to not sell yet and buys Teck more time before purchasing SC (aka the delay games in full swing). Funny, they couldn't do these big programs in prior years waiting our time as investors. This is SC's largest program to date but comes at a time current shareholders are exhausted and ready to move on! We essentially got delayed again! I'm sure Elmer would want to see the new Npv from 2021/2022/2023 data aswell....
Recommended Program
The PEA describes a recommended work program for the Schaft Creek Project that contemplates a C$23.2M budget as part of a potential Pre-Feasibility Study (“PFS”). Activities include geological and geotechnical drilling, metallurgical testwork, and additional environmental and infrastructure studies to complete the PFS. The recommended budget includes contingencies, preparation of the PFS and direct costs related to completion of the recommended program.
Schaft Creek Project Enhancements
The PEA identified opportunities that could enhance the investment opportunity of the Schaft Creek Project including:
- Additional metallurgical testwork to increase metal recoveries and reduce processing costs
- Geotechnical drilling to potentially reduce the LOM strip ratio
- Infill drilling to increase confidence in the resource model, extend the limits of the mineralization and upgrade the Mineral Resources to a higher Mineral Resource category
- Pursue opportunities to reduce the project development execution timeline from the current 5 years
