Is is good news? 9 year mine life for BF seems short lived!!
8:44AM Brigus Gold announces results from recently completed independent Technical Report on its Black Fox Mine in the Timmins Gold District (BRD) 1.96 : Highlights from the Report include: -- Mine life of 8.6 years based on existing reserves of 906,375 ounces of gold within 6.5 million tonnes at an average gold grade of 4.4 grams per tonne. -- Processing rate of 730,000 tonnes per annum and a recovery rate of 94%. -- Average cash operating costs of $502 per ounce with a break even gold price of $602 per ounce.
That report basically covers existing ops.....of note they mentioned expansion of the BF mill. That is the telling piece for the future. That expansion will take them to 3000TPD and increase gold output by 50% at very little incremental cost.
And this report covers ONLY the existing Black Fox mine, not they Grey Fox / Pike River land. So current market cap for BRD is roughly equal to BF's new NPV, and not counting the BF expansion properties, Goldfields, Dominican, etc. Plenty to like for an acquiring company or existing shareholder. Bite it, bashers!