March 4, 2014
...
About 1,000 tons of stockpiled ore was processed before flooding led operations to be shut down at the end of February, the company said. The remainder of the 3,500 tons of stored material has yet to be processed.
The mine will need to remove the water, move equipment and install a gold smelting room at a projected cost of more than $1.1 million before production can continue, the company said. ...
“There is no sense operating the mill and incurring additional costs until we have addressed the issues we know preclude efficient commercial processing,” Rick Winters, the company’s interim president and chief executive, said in a statement.
...
______________________________________________________________________
Off-the-cuff thoughts . . .
1. $1.1 million doesn't seem like much money to get the mine back into production. That's a plus.
2. Once the gold smelting room is installed, it's sounds like Sutter will be able to immediately process 3500 tons of ore even before any additional ore gets mined. That's a plus.
3. Hopefully, restructuring Sutter's outstanding debt will enable the "efficient commercial processing" that Mr. Winters mentioned. That's a potential plus.
OT. Seemingly to make sure that I don't get too giddy about Tyhee's prospects, TYHJF has been slapped down ~27% in early trading.
Still keeping the faith,
Old School
