looking through the old quarterly reports they have already built the haul roads for Julius and other infrastructure. So the cash burn is in a better position then expected as they have already spent aprox 3 million of the 39 million pre production costs from the old bfs.
Also for the Mt Joel announcements there's a footnote in one of the lower pages JORC saying the think there is approx 200k of resources in the district.
I expect the updated bfs has lower mining costs and lower costs for the project.
Unlike GCY and BLK who are having issues, EAR has much lower stripping ratios and higher grades during the startup of the project.
One of the advantages of EAR is they are not mill constrained, if they find large underground higher grade ore they can increase production significantly, or even just putting the oxide ore from Mt Joel into the first 4 years will increase production significantly.
EAR Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
