It really changes the economics of the project. The ultramafic hanging wall was always a potential problem due to its fragility and it scared off a lot of potential miners of Rothsay. Sorting the material coming out will make a massive difference to the AISC of Rothsay and have a major impact on the economics of the project.
If the market was rational we would see a 20% rise in the SP today, but given almost nobody follows EGA I suspect we will close flat or slightly up. In the end once the gold starts pouring that is all that matters.
EGA Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
