I agree with everything you said. It could be a couple/few years yet. When the children in washington get around to raising the debt ceiling this time, we should have a run up across the board. I believe there is a zero chance they'll do the right thing. Things only get worse and worse from here...world wide.
I try to listen to what's not said in presentations and I got the feel that VGZ's not a seller at this time. But There's always a price when you're this close to production and there are bound to be knocks on the door. This industry is more competitive then most people realize and it's a big reason they like to get together and present what they have.
For Mt. Todd, He mentioned testing the liner and the base rock at the bottom of the leach pad before they begin recovery of gold left on the pile... Testing the base density is easy but the conditions have to be right for the liner test, that's why I believe he mentioned the rain factor. If the liner is torn (which is not very likely) And if it were me, I'd move the heap (since the existing is graded and in place) re-pact the ground, put a new liner in, haul in some fine base and re-stack the leach pile using the dumps first, then belt loaders and a couple of RSC's. It's all an 'if' on the liner right now from what I heard. It might sound like a lot of extra work but it can be done pretty fast with an experienced crew. But obviously your cost per/oz would go up though on the existing part of the project.
If all test's out well, the knock on the door get's louder. IMO.
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