If the 200,000 tpd number is correct, then this mine will be even larger than I expected. No wonder the feasibility study is taking so long. For comparison, here are some of the proposed mill rates of nearby properties:
30,000 tpd - Red Chris (Imperial Metals)
60,000 tpd - Mount Milligan (Thompson Creek Metals)
95,000 tpd - Galore Creek (Nova Gold)
120,000 tpd* - KSM (Seabridge Gold)
A mill rate of 200,000 tpd will only keep the mine running for 14 years based on our current resource estimate. Most mines aim for a 20 year mine life. This tells me that Elmer is 100% confident that our resource estimate can be increased by at least 50%. The major downside to 200,000 tpd is that our capex will undoubtedly increase.
* Seabridge and Pretium have teamed up to release a feasibility on their combined projects (due anytime). I expect that this feasibility will show a monster mine as well. Combined, this project will have 65M ozs of gold and 13B lbs of copper. This massive resource will definitely catch some attention which should be good for us. Don't worry, the economics of Schaft Creek should prove us to be the superior project.
