Some time ago a list of junior miners/explorers was posted here (by Baires I think?). One of them rivaled TDC for the dubious distinction of low valuation per resource ounce - Seabridge Gold.
I'm working from memory here, but I think SA has 10 or 20 Million resource ounces, but because of the deposit discontinuity, the breakeven gold price is in 4 figures. We are somewhat lower, but not as low as we would like, based on the recent prefeas.
OK, so where am I going with all this? Webb is working to add resource ounces nearby existing deposits so that the extraction cost per ounce in an eventual feasibility study will be markedly lower. Just what the doctor - er, I mean bank, ordered. He's not looking for bonanza grades - they don't exist here. But he is looking to increase bankable resource ounces at surface to make the project more profitable, and hence more financeable.
