2. A reasonable oxide resource suitable for heap leach processing. The appeal of such ore is that such a plant can be built for just $60-80 million rather than $150-200 million for a CIL/CIP plant
3. A market advantage like cheap costs (because they are located in a country with low labour costs or established 'competitive' mining industry) or high grades to limit (so corresponding low mining costs per tonne of ore because of the added gold), as these reduce the project vulnerability in the short term, given the low current gold prices. Don't for a moment think that gold prices are 'still high' because costs of extraction have increased, and all asset prices have risen a great deal.
4. Good cash reserves - say $30 million plus is required to ensure the project sponsor has enough money to explore, evaluate and commission a modest project. This is still a difficult market to raise 'equity cash' so seek out those companies which still possess large cash holdings. Surprisingly, they have been marked down in equal measure to the stocks with no cash. You will also want $10 million odd for exploration and appraisal and at least $20million for project equity.
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