Some interesting points made in the quarterly report that has recieved less than expected commentary. Seems everyone is more interested in a waste mining venture in the Melbourne CBD that in real gold mining.
NAG are claiming 14.5g/t gold equivalent ore. This is only relevant if you are going to recover the 5% antimony in the ore body. All previous reports on the "Ghost Plant" being build by Golden Camel are that it is a CIL plant. i.e. Cyanide leaching. This will not recover the Antimony, in fact, the antimony will be hosted in sulphides, which will likely impact the gold recovery in an negetive way. So the Au.eq is in fact only the 4.7g/t in the actual gold. Getting very close to the 3.0g/t cut off grade and costs are only going up. This will bugger the JORC, although i've seen many a Geologist/Mining Eng ignore the metallurgical issues when calculating a reserve/resource. To recover the antimony, you would have to use flotation. There is no Toll flotation plant in Victoria as far as I know. Unless Costerfield is not at capacity.
A flippant comment that Golden Camel are still awaiting finance for a plant that was meant to be finished and operating in early 2023. hmmmm still waiting.
NAG Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
