The mine was shut down in the 20's because of litigation. Cpt. Alexander died in a ship wreck and then a number of wives came forth arguing over ownership of the mine. This prevented any work from continuing.
The water that is I visioned by all is not as you would think it. I was told water levels range from just inches of water to up to four or five feet. It's. it like we have an underground mine that is 100% full to the brim with water.
I would venture to guess that two years of litigation and no one allowed on the mine in the 20s would have caused several issues. Rebuilding the mine may not have been feasible back then with the easy gold found. It's. of like roscoelite is always full of visible. Most often it's just black greenish rock that old time miners may have over looked.
I think a miner working 1 day for a quarter ounce of gold is far from conservative. That would suggest that a miner is getting paid $430 a day to work at Engineer. Fat chance of that happening. Costs would be half of that for labour. It's easier to access the mine because we have winter roads to truck any machinery in on and we can barge on that water. Electricity is an issue but you can run a diesel generator on these sites to power them. It's not the most cost efficient, but neither is building bee power lines for an operation that may only last for 4-7 years because of POG and exploration risk.
The results at Shaft are great and we likely have a vein there with at least 25,000oz in it. Also remember on average chip/panel shambles are 850% less in grade than the bulk samples. Add 850% to those results and they look pretty darn good!!
I am shell shocked at the share price and might e forced to hit the sell soon because of factors that have nothing to do with BCG. Stock piling currency right now for the impending recession.