I'm guessing they want the restart study finalized asap to give access to this
as well as the data room for financiers but I'm a little confused by that recent video.
If the study comes out at the end of Feburary it means..
It won't include the assays for the stock piled oxide ore around the mine (sonic rig samples). Sonic drill core samples are only just being prepped for mettalurgical testwork so it won't include increased copper resource or recovery rates. Not sure if it could be included under JORC guidelines though.
It won't include recent drilling intersections. the updated mineral resource is due at the end of the quarter at the earliest This means that the pit design will be finished without including some of the up plunge extensions to the west from recent drilling and will need to be finalized after. For a robust study you need a good majority of the resources measured and indicated.. further robust figures, pit design and heap leach resource may be excluded.
Maybe it could but not a lot of time to do so.
They are working on optimizing the leaching and reducing reagent use and I don't expect reduced cost savings and optimization to be completed in time for the restart study as they are still conducting column testing. Cpuld be worn but it hasnt bee long since they started this. We could see a higher AISC from this in the study.
Good to hear that 2 submissions for approval have been made and a 3rd about to be sent off..
All in all.. it's a strange time to come out and blurt that the restart study will be out in 10 days. After the delay was announced, it gave the impression that it's now better to wait.. the reasons for this were because approvals were taking so long and we would then be able to include the updated resource included as well as optimized heap leach recovery rates and opex etc.
Another company E25 said there scoping study was 90% complete in August in an interview, this didn't end up coming out until late Janurary. 5 months of 'finishing touches'.
Companies need to avoid using 'i' and 't' as it seems there's an awful lot of work involved in dotting and crossing.
We were all under the impression that it is the Nifty restart study / BFS..
In the last quarterly it's only referred to as the heap leach restart study.. No costs have been established for the concentrator or none that have been announced to market that I'm aware. Passing comments for sure but nothing final.
The Hartleys report included making concentrate from the sulphide.. one of the approvals needed is the tailings dam expansion though, so can't rule this out.
It would be good to have some clarification on whether the restart study will leave out the sulphide resource entirely. This would reduce the NPV severely as it becomes a 10-12 year mine life instead of 30. But would also greatly reduce the money needed for finance.
Good to have some communication for a change but also left with more questions.
Unless they get a lot of information analyzed and logged to finalize the study it seems things could be left out which aren't actually that far behind.. hard to say but imo it's to get the restart study out there so finance can be achieved faster and therefore not impact the time to construct anymore than it should.
(20min delay)