Prime Mining (TSX-V: PRYM) - And to this day I still get butterflies
Matthew Gordon, Ptolemy Capital
6 Months ago
Prime Mining has changed its plan a lot since we last spoke in December. The business plan was originally to start producing gold as soon as possible. The Resource was around 530Koz of economically mineable gold and 10Moz of silver, all sitting near-surface. This would have theoretically enable Prime Mining to be producing 65-70Koz annually in around 2-years' time. At the time, Bowering stated that attaining cash flow in the fastest possible time would enable his company to fund additional drilling, expand the resource and ramp up operations. This seemed prudent given a gold price rising above US$1,700/oz has led some commentators into a speculation frenzy: possible US$2,000/oz gold?
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