Historic Holes, page-25

@gosouth

If you refer back to previous discussions, @eshmun took extreme issue with my base case recovery assumptions which look something like this:



There is nothing out of the ordinary with the above as they are pretty standard recovery assumptions. On the other hand, @eshmun assumed 50-60% recoveries for Zn+Pb and 90% Au.

Also, I do not disagree with your statement. If you refer back to earlier discussions, I noted that a gold recovery circuit could be the subject of a deferred capex study once the operators get into the higher grade gold mineralization. My disagreement was paying the upfront capital to implement fine grinding/cyanide leaching to maximize gold recovery from the marginal grades early in mine life. The prudent thing to do here is minimize upfront capex and pay for a gold recovery circuit from cashflows once gold grades justify the spend.