By way of comparison, look at the cost (near 3 billion and counting) and the extreme remoteness of the Pascua Lama project. Barrick has spent decades bringing that up to the point where it is still not in production, and the resource is 17 mm oz thereabouts (granted that is all proved and probable category with huge silver byproduct credits). But, my point remains, decades and billions for a very remote and technically demanding project....that comp makes Burnstone look like a bargain with it's 5000 tpd mill permitted and in place for say 700mm, or so it seems. I guess the big question is whether the geologic kinks encountered during the ramp mostly require a bigger working capital cushion to work through, or are they more systemic. Can't find much data on that other than the disclosure made by mgmt that a team, crucially -hired by the lenders, to value the project just prior to the CCAA filing produced a report that did not require any impairments to carrying value. I believe they refer to it as the Snowden report....I'd love to see that report.
