Well we know why the MRE has been delayed a little.
“These latest results will add significant value to the project metrics. Mine designs based on the December 2017 MRE indicate that significant increases in mine productivity can be achieved by using larger development ore drives while maintaining a single decline. The larger ore drives result in 700kt of development ore with an ore grade of 2.4g/t Au. By using an XRT sort, we can potentially lift this grade to over 6g/t Au and reduce the quantum of ore drive material by a factor of three.
“This provides the opportunity to increase the production rate of the underground mine, increase the ounce per annum profile of the project, reduce the operating costs and consequently reduce the Resource cut-off grade.”
This is going to have a big impact on the resource size and ultimately the DFS.
EGA Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
