I quickly scanned through the PEA.
First, the project is economically viable provided gold stays at or above $1,400/ounce. If gold goes to $2,000/ounce as many are predicting then the project will look really good.
Second, there is a LOT more gold to be proven up on the property. There is likely gold under the waste pile which would impact economics substantially. There is more underground to be proven up and mineralisation is open in all directions.(Plenty of low hanging fruit)
My conclusion is it looks good without the nugget effect which is why we need a rolling start to really look at the ore and see what the true head grade is. Plus generate some positive cash flow to stop the dilution. It is unfortunate that we can not drill aggressively at the same time due to poor market conditions/low share price. Our location in a mining district with infrastructure and a skilled workforce in place is a huge benefit. It looks like there are no environmental problems so we should be a go following the PFS. The present share price is a joke, but without buyers what will move it ? The royalty program ? My guess is we will be pouring gold by the end of this year. We are proceeding in a conservative way and progress is slower than would be preferred. At the end of the day there will be a mine here.
Now we wait for the PFS and a decision on a rolling start.