For convenience, all my metal equivalent values are reported gross. However, revenues from my model have always been reported as NSR.
My NSR per tonne estimates are roughly 60-65% of GMV. Please see my math below.
I assume 51% Zn con. Therefore, we can calculate gross value @ US$1/lb Zn:
51% * 2204.62 lbs/t * US$1/lb Zn = US$1124.36/t of Zn Con
Then take 8% unit deduction (8% 0f 51% Zn) at smelter leaving 43% Zn:
51% Zn - 8% Zn unit deduction = 43% Zn
Said differently, 84.3% of the Zn in concentrate is "payable":
43% Zn / 51% Zn = 84.3% of Zn payable
Revenue per tonne of Zn con after unit deduction:
84.3% payable * US$1124.36/t = US$947.83/t
Then subtract US$140/t treatment charge to get NSR/t Zn Con:
US$947.83 - US$140/t = US$807.83/t Zn Con
If head grade is 10% Zn, it would take 5.67 tonnes of feed to concentrate Zn to 51%:
51%/(10% Zn * 90% recovery) = 5.67 tonnes mined per tonne of Zn con
Therefore, Zinc NSR per mined tonne is US$142.47:
US$807.83 ÷ 5.67 tonnes = US$142.47/t mined
This is roughly 65% of GMV of 10% Zn @ US$1/lb which is US$220.46/t
I do not include transport/haulage costs or account for any penalties. Another reason my my NSR values seem high (as a % of GMV) is treatment charges, which has come down to around $140/t compared to $200/t+ a few years ago. Still, I would consider my revenue models very conservative as I do not include potential revenues from barite; assume site costs on the high end for UG mining, and (as you've complained many times) conservative Au recovery assumptions.
- Forums
- ASX - By Stock
- ADT
- Ann: Adriatic Metals Corporate Presentation
Ann: Adriatic Metals Corporate Presentation, page-323
-
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADT (ASX) to my watchlist
|
|||||
Last
$3.17 |
Change
0.020(0.63%) |
Mkt cap ! $889.6M |
Open | High | Low | Value | Volume |
$3.14 | $3.18 | $3.11 | $960.6K | 305.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 4559 | $3.16 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.17 | 1121 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 5164 | 3.170 |
12 | 6503 | 3.160 |
14 | 20341 | 3.150 |
12 | 10490 | 3.140 |
10 | 6886 | 3.130 |
Price($) | Vol. | No. |
---|---|---|
3.180 | 4286 | 6 |
3.190 | 8801 | 9 |
3.200 | 26975 | 11 |
3.210 | 14051 | 9 |
3.220 | 4085 | 5 |
Last trade - 10.58am 26/07/2024 (20 minute delay) ? |
Featured News
ADT (ASX) Chart |