Where will they get ore from to produce in 16 months ? The Champion report is making exploration recommendations that will cost a fair amount of money but also time to implement. There is no firm indication that other ore is readily available for custom milling. The report provides recommendations for next exploration steps- thus such steps would need to be taken, results reviewed and analysed, then another round of exploration work or even some underground access rehabilitation work, then another study-all this I am sure Rice nows, and all this wont be complete in 16 months.In my opinon the information they have presented is fairly conclusive that they wont be producing on a commercial basis in 16 months from the Champion mine.Plus if I read correctly their rough cost estimates are based on a 5,000 ton per day operation- to do the exploration, undergroumd development, and construct a new mill in 16 months, well that is very unlikely in my opinion they will be producing ore from this mine in 16 months.
Rehabilitating the underground workings including restoring services, any ground control issues ( which they wont know until they are back underground), all take time. The company is providing recommendations for exploration work at this time.
So unless there is a better indication of where ore will come from in 16 months , I consider the company promoting themselves as a near term production play is misleading.Just my opinion, if someone can show a reasonable possibility of this company have a source of ore to process within 16 months by all means let us know.
There is separate issue of their track record in stating and meeting objectives.And the financing challenge they have.
AI
