Good posts.
Indeed production cost is life-of-mine, and initial costs will be far higher - e.g. stripping of barren rock
True some miners don't need a FS - e.g. Extorre. You have to have very strong financing connections and those are not in evidence so far. I'm sure there will be dilution, even this year, as money is being spent and $9m was not a lot.
100% for sure they are planning for an underground mine at the bottom of the open pit. Rich resources down very deep where is doesn't pay to strip.
What? Does the presentation say the PEA may not be 43-101 compliant? I didn't even know that was legal. Can someone confirm, or h_rattle?
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A little late to this but just to add:
1. The production/cash cost per ounce is often a life-of-mine average figure with a higher initial cost.
2. Some miners are having success with the banks without a BFS e.g. Metanor have raised $20m based on their pre-feasibility study. Perhaps PDG can fund Magino without much more dilution.
3. The PEA may be more complex than a simple open pit mine - this point was said to me by either Brian or Perron (can't remember which one) and is repeated in the last NR i.e. "Underground mining may comprise a separate phase of mine life."
4. Will the revised resource estimate due this month be NI 43-101 compliant? I'm a little confused as the NR says the PEA is not an NI 43-101 assessment.
5. Brian talked about a new cut-off of 0.1 gpt being possible - I don't think they will use that as the headline but I wouldn't be surprised if it is in the tables. 3.25 m ozs sounds about right but so long as it is 1 m ozs M&I the total resource won't matter so much.
