Im a bit sceptical of it being 15mill worth of work but i still think it is an ok deal.
the vast majority of the drilling has already been done, just need to fill it out and get into the creek areas to get to Jorc (couldnt be more than a couple of hundred thousand worth of drilling to get to that stage). doubt there would be a pilot plant, they have already shown good recoveries from the ore so they would know the process needed. so really it is just minor drilling and Jorc, feasibility study and then Engineering. My guess would be less than 5 mill to get to that stage where financing and construction start if CTM were going alone. Im sure out new partners would be able to do it for cheaper than that still.
A "smart" JV!, page-2
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