We sat down with Gold Terra's CEO to talk about the December PEA, the tailings program, and where the Newmont negotiation stands. TL;DR below, full article linked.
Overview:
What have they done for shareholders lately?
How much money do they have and what are they spending it on?
Upcoming catalysts
Risks
Full Article: https://resourcetalks.com/gold-stocks/new-pea-expected-at-historic-gold-mine-but-will-they-add-real-ounces/
TL;DR
The PEA is targeted for the first week of December but CEO Gerald Panneton said it could slip into January because his tailings drill contractor pushed him back two weeks. Treasury is roughly $10 million with about $7 million going into the ground, and he said that funds them comfortably into next spring. The tailings are the piece he is most interested in, with an internal guess of about 300,000 ounces at 1 g/t and a stated range of 200,000 to 500,000 ounces, at roughly $50 a tonne to reprocess versus about $300 a tonne underground. Importantly, the 103N drilling is not about finding new ounces, it is twinning historical underground holes so SLR can move inferred into indicated. The Con acquisition itself is targeted for Q1 2027, and the environmental security bond he has to assume has gone from $9 million when he signed to $16 million today. I asked whether Newmont might want the asset back and he said flatly no, on the basis that their new-mine threshold is around 300,000 ounces a year. He believes everything is renegotiable.
