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11/04/16
22:56
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Originally posted by specgoldbug
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Here's a little on the BAR/CNJ world class high grade Cobalt project
Great asset- but Cobalt prices haven't quite recovered yet, so am happy they will make lots from the gold till prices recover
Not a typical Cobalt/Nickel laterite – no autoclaves required
Totally oxidised ore, fine, extremely friable, no drill and blast- this is the key
Possibly Worlds fourth largest cobalt producer during first 3 years of production
Substantial net cashflow over 17 year mine life (A$1.65 billion) as per 2009 Cobalt price
Close to existing infrastructure
JORC Resource of 29Mt @ 0.56% 0.14% Cobalt, Nickel, 0.9%Manganese (1.5% Nickel equivalent)
Excellent metallurgical characteristics
Virtually no clays present in the ore profile
Mineralogy almost entirely iron oxides (goethite and hematite)
Almost no silica
Shallow depth and thin overburden, 1.4:1 strip ratio
Amenable to treatment at low cost, simple processing
Port Already in Esperence
Major Sealed road 4 km from site
Rail Directly from Port to Site
Gas Pipeline 4 km from site
Water Fresh and saline adjacent
Town Comfortable 20 km
Labour Stable residential workforce
Power Grid power for camp
Based on mining 12.5 million tonnes from the Indicated Mineral Resource, two 900,000 tonnes per annum conceptual flowsheets are currently under investigation. One utilising a paste thickener (Thickener) and the other using an ion exchange resin-in-pulp (RIP). Early studies indicate both flowsheet options have similar capital requirements of approximately $65-70 million (including 30% contingencies on plant and equipment and $20 million for site infrastructure). Unit operating costs were estimated at $5.50/pound of cobalt for the RIP option and $5.55/pound of cobalt for the Thickener option.
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How is Mt. Thirsty (BAR/CNJ) positioned in comparison to other virtuals, like for example Broken Hills (BPL), in regards to PFS, DFS, project timeline and estimated beginning of production. Last I read about BPL, is that they don't have a JORC compliant study yet, that would show economic viability.