So if we take the numbers solely concerned with the Mint, we assume 1000 tpd processing, along with 9g/t head grade at the mill.(from the recent Bingo technical report) And if we take ~$438/oz. costs the obligations under the swap agreement could be as much as 120,000 oz. per year to cover cost and deficit. The operation was set in motion summer 2010 and operated for five years. The mint raised $660 million which it intended to spend on acquiring gold, which, by coincidence is the sum total of 'cost to mine' and resulting deficit in The La Ronge Gold Project.

Presumably the various mines in the La Ronge Gold Belt would have provided the necessary ore. I assume that the Roy Lloyd mine was the main source of the ore, as Jolu did not appear entirely operational until the end of 2013. Spring of 2014 saw the appearance in the Sat photos of ventilators at the principal entrance of the Jolu Mine, connected by a heavy electrical cable.

The miner can write off the deficit without raising any capital, and thus becomes a tax-advantaged strategy.

The wild card is just how much gold was extracted out of the EP Mine 'pay streak' of Supergene enriched ore to fulfill Sprott's physical gold bullion ETF stored at the mint. Notable changes take place on the balance sheet of the physical ETF co-incide with changes to the balance sheet and operations at The La Ronge Gold Project in 2013.

This is the 'capital raise' tranche and could equal or exceed the total supplied to the Mint ETF.

Overall, this is a list of assumptions that I've been carrying for some time. Some of them for a period of years. But we find through sat photos that so-called shut-downs and care-and-maintenance declarations are solely a method of manipulating the stock price so that the insiders stuff their jeans on short sales.

A wiser, fairer policy would be to write down the deficit, which is entirely possible, and pay a dividend instead of going to wild abandon and taking advantage of the shareholders for incremental returns.

But the light at the end if the tunnel is that the insiders no longer run the company to wreck and have run out of their short selling Spree.