Skip to main content
Stephen Soock

Stephen Soock

Sep 26, 2026

5:49
How do you pick that up?
5:50
Yeah, so it's got a few advantages.
5:53
One is we don't have to have trucks hauling ore out from underground right to the crusher on surface.
5:59
And by being able to eliminate those trucks, you also eliminate event rates because you don't need to ventilate all that diesel exhaust into the mine.
6:06
So, it'll actually have pretty significant operating cost savings and a better way to approach the whole design of the mine.
6:15
Feeding from that, actually, we think we'll also be able to drop the cutoff grade.
6:20
Now, we are sensitive that we want to maintain a high-margin, high-grade mine, so we're not trying to capture every ounce possible.
10:06
Sticking with the development, the question was, are you allocating any capital towards greenfield exploration?
150:13
I'm just curious, what are the key assumptions that would you say are embedded in that outlook if you're going to hit what the charts are showing?
150:21
Yeah, sure.
150:21
So the way we're executing is as a series of staged projects right now.
150:26
We've sequenced those projects to maximize near-term cash flow, minimize near-term CapEx requirements to be able to build that cash really to bring Annapola online.
150:38
So one of the key assumptions is the timeline to build Annapola.
150:43
We've put out a PEA study, a preliminary economic study late last year showing we'd be able to do 100,000 ounces a year over a nine-year mine life at a $1,000 per ounce on sustaining costs because of the rare combination of grade and thickness that is Ana Paula.
151:00
That's a unicorn sort of set up in the industry.
154:51
What would you say are the remaining steps you need to hit to bring that online? And as you look at funding the CapEx for both Annapola and Cerro Del Gallo, how are you thinking of what your options are there?
10:05
Um, but why, why was that the right thing to do versus spending the money on Ana Paula?
10:09
I think the, uh, the, the cash flow profile, uh, pairs with Ana Paula well, uh, for, for Gold Strike, our payment structure.
10:17
Pay $10 million upfront plus $2.5 million in cash.
10:20
It's, uh, 10 million in 12 months, 10 million in 18 months, 15 million on the receipt of water permits, and 25 million on either a construction decision or five years.
10:31
So you know, we, uh, had, um, you know, money come in from warrant exercises, uh, through Q1 and, and late last year.
10:38
Uh, we sold some gold at, you know, over $5,400 an ounce for, uh, for a week or two.
10:43
Um, and then the way it's structured is really to, to kind of, uh, not burden us too quickly with the cash payments, uh, with still very much the focus being Ana Paula.
15:10
H- H- How are you getting after the as- uh, the, the project?

We value your privacy

We use cookies to understand how you use our platform and to improve your experience. Click “Accept All” to consent, or “Decline non-essential” to opt out of non-essential cookies. Read our Privacy Policy.