The
Aggregate Potential
Background Information
It is expected that a construction aggregate business can be developed once the heap leach operation is in full production, based on the location of the Project in southern California with close proximity to major highways and railway lines. The source of raw materials will be rock from the waste rock dumps. The waste rock can be classified into a range of products such as riprap, crushed stone and sand with little further processing. Test work done in the 1990’s confirmed the suitability of these materials as aggregate. The waste rock can be sold over an extended life-of-mine > 30 years.
It is important to note that the aggregate would be produced as a byproduct from a mining operation. This would give the producer an economic advantage by comparison to producers that have to mine rock to produce aggregate. It has also become increasingly difficult to permit new aggregate operations in California and that would be an advantage for the Project.
An Aggregate Strategy
GQM has identified an aggregate producer with experience in the aggregate markets of the southwestern U.S. as a sub-contractor for developing the aggregate business. GQM will not invest directly in or develop an aggregate business as owner-operator but would participate financially in the sale of aggregate via royalty payments. The royalty payments would make a contribution to cash flows and support the Project in times of possibly lower gold and silver prices.
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