"Klondex doesn't have its own mill. Klondex has toll milling agreements with both Newmont Mining and Veris Gold. In the current environment, saving capex is important. It allows Klondex to get cash flow very quickly. In fact, it has already started receiving payments from its toll milling agreements. This ability to generate cash in the near term should allow Klondex to continue exploring while doing the necessary development for steady-state operations. We model it reaching 500 tpd and producing over 80,000 oz gold in 2015; Klondex is able to fund the underground exploration drilling needed to meet these targets."