Glorieux

It's a good exercise to play around with numbers for some sort of projection of the potential profits. As you have illustrated, there are several assumptions that go into the profit calculations.

One key assumption, imo, is the production of 120,000 tonnes/year of 99.5% @ $10,000/tonne. Let's put the 99.5% and $10,000/tonne aside for now, but the assumption of 120,000 tonnes/year production rate is too high and may not be realistic from the capex consideration. Of course, anything is possible if you are willing to pay for it. Questions: where is the money, and if it would be possible to unload (sell) 120,000 tonnes of the high grade high purity stuff a year ($1.2 B sale per year is a lot of money).

I would suggest that perhaps the production rate can be scaled down by, say, a factor of 10? Even an annual sale of $120 M @ a 50% profit ($60 M/year) is a huge profit for this junior.

goldhunter