great acquisition, page-37

Hi pg76.
There could be Four way to process the tails, one via heap leach, two high pressure acid leach ( very costly), three by blending into the ore on the rom pad, eg 4 ton fresh ore 1 ton tails. Four have it's own flotation plant.

Problems with blending is that you can stuff up your recovery thru the plant, eg, contamination, ph, oxidation.

High pressure leach, big cost so I don't think so.

Heap leach, cheap to set up. Would be able to leach out the copper and gold.

Separate flotation plant, low cost set up.would need a little regrind mill as they did say the plant grinding circuit was crook. With its own plant you could separate three of the said minerals. Havnt processed poly ore before but I think it goes like this. Float the zinc out first whilst depressing copper gold with copper sulphate, then reactivate the copper gold in the next part of the float circuit. Cost using second hand banks pumps and mill, couple of million would do.

Pg76 there is a coy that processes tailings in w.a. I think, check it out. They would have the right stuff for the job as this is what they do.

Back to the current open pit, it will be interesting to see the grade of the ore, being a low throughput plant it should be high grade.

You see you need high grade to make it profitable. The modern day copper plays are mostly low grade high tonnage like Ernest Henry mine, .6 % head grade 1500 tons an hour. Verses the now shutdown gunpower mine 3 to 8% head grade 160 tons an hour. The gunpowder open cut at one stage was digging ore straight out of pit and selling it as concentrate, grade was 32% plus.

Until we get some info on grade etc we cant really make an informed decision. They should no the previous head grades which should have been reported.

I'm guessing the cost of production will be a bit cheaper over there so that will help. However if Cooper was down around two bucks I'd say it would be operating at a loss or close to it. At this stage we don't no, will have to wait for the drilling results.

So after read Ann again I see we will have another cap raise to pay for mine and repairs, so a bit more dilution.

Cheers
Pp