Interesting read... - resource at Cameron last calculated in Feb 2010 - using conservative 1.5g/t cut off = 1.005m oz - since then 44,000m of drilling - results back for 35,000m - recalculating JORC this quarter (any guesses??)
- pre-feasibility on Cameron open pit to be completed by Q2 2012
- New near Rainy River prospect (terms of acquisition not clear?)
- $8m cash in bank and low burn (<$2m pa)
All comes down to what can be mined at what cost. If their earlier "starter pit" costs of <$600/oz for 300k oz can be scaled with adequate reserves and justify a decent size plant.
Something has to give in sp - still being rated as a pure explorer rather than one with real production prospects.
CVY Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
