I love when a company comes out w/ a NR that nobody understands.
The main takeaways here:
1) The permitting for Greywacke is complete.
2) Very high recovery rate of 93% with 80%, which is higher than average, merely using gravity.
3) Grades coming in as expected and higher, 7.4 to 8 g/t which is at surface open pit.
Conclusion is that costs of the 15,000 tonne bulk sample will be low, below $500/oz, resulting in a $4.5M profit.