TYHEE GOLD CORP
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Message: Some answers from the CEO
I submitted the following questions to Tyhee's President and CEO, Dave Webb.
(Please note, I may have misquoted JP in my previous post about Keith Barron's comments regarding Big Sky. Keith informed Baires he has not been to Big Sky so perhaps I lost something in translation and it was Ormsby or Nicholas Lake?...Baires is trying to clarify with Keith.). The six questions:
- Firstly, is it correct you may at some point buy a mill and move it to the Yellowknife/Big Sky area for processing the ore? How would you transport the Nicholas ore to Ormsby or wherever?
- Secondly, what would be the status of the prefeasibility report?
- Thirdly, how long would it take to construct a mine?
- Fourth, are there any issues with community support?
- Fifth, any plans to raise further equity?
- Six, any ideas of what Keith Barron meant when he said that the Yellowknife area had 7 of the 9 attributes he looks for? Which 2 would be missing?
With my thanks and the CEO's permission, here are his answers:
------------------------------------...
As part of our Preliminary Assessment, we are looking at a 3000 to 5000 tonne per day mill on site. This would act as the processing centre for any deposits within 15 to 20 km. We have walked a road right of way and submitted this as part of our permit application, to get ore from Nicholas Lake to the Ormsby site. It is a 10 km all-weather route.We are working on a Preliminary Assessment which typically precedes a Prefeasibility or Feasibility report. We have completed a number of model pits on the Ormsby Zone, and are examining both an open pit and an underground option for Nicholas Lake. I could guess a date, but it is best to say it will be ready when it is delivered to us. Look for a month or so after we publish the NL OP resource.A mine and mill complex can be constructed in 12 months although most engineers request 18 months. We’d need all permits, which typically take 12 to 24 months after final application documents are submitted. Some construction can be done in advance of final permits, but that can be fairly risky.We have letters of support from the Yellowknife Chamber of Commerce, and the NWT and Nunavut Chamber of Mines. We have positive feedback from the principal native groups in the area. We’ll have to wait for our final plans to be published before we go any further, however we do meet the nearby communities on an ongoing basis. We have hired Hugh Wilson as our VP Environment and Community Affairs to spearhead this. His previous employment was with Miramar obtaining their permits for Hope Bay.We have no plans to raise further equity at this time. We have enough cash in the bank to accomplish all of our goals for 2008, plus some in the money warrants coming due in March and April. If we have exceptional results at BigSky, Clan Lake, or Goodwin Lake we may increase our budgets, but that would more or less be self-financing. We also anticipate a capital budget of between $175 and $200 million for a 3000 to 5000 tpd mine and mill operation which, should it be required, will most likely be financed through a typical debt and equity package, so ultimately, there would be additional equity issued.I talk to Keith from time to time, and we all have our little secrets, so I’m not sure what his 9 attributes might be. One can guess, based on Keith’s background that these attributes could include, in no particular order:- Evidence of large gold deposits (past producing mines)
- Large structures
- Large alteration zones
- Large and reactive host rocks
- Extensive source rock
- Large heat engines
- Multiple tectonic and/or thermal events
- Some way to obscure prior discovery (cover rocks)
- Good logistics (transportation power water)
- Good social/political/fiscal structure
5 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply