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Message: Re: 18.6 million ounces of gold
1
Feb 03, 2009 07:56AM

Quite a shocker, hard to know whether the deposit will ge develop. Eskay Creek's was/is a high grade mine and its mill would have be significantly expanded if it is used at all. But Barrick might still be interest since Novagold went bust.

it's still early yet, and the company certainly won't develop snowfield by itself. this would be a large project, and my guess is capex would be more than $1 billion, possibly a lot more. since the company is based on silver, that wouldn't fit into their plans. a joint venture is a possibility, as well as a sale to a major. the thing to remember is that our 18 million ounces are right next to seabridge's 20 million ounces, and those numbers could grow some more. it isn't easy to find 40 million ounce deposits in safe juristictions, so i think it's only a matter of time before this attracts the attention of one of the producers.

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