$23m on alljig gravity circuit - for what?, page-3

Brickwalls

A conventual plant without a native copper circuit would only be able to achieve about 55% recoveries of the native copper. The company tells us of the 30 million tonne 20% is native copper ore so lets be very conservative to keep every one happy and say the native copper has a grade of 1% so the resource contains 60 000 tonne of native copper. Without the native copper circuit 27 000 tonne of that would of been lost. At a conservative price of $7000 per tonne that would of been $189 million dollars of revenue lost and because the ore had to be dug up and processed it is more or less profit before tax. Do I believe my conservative figures? Nope I think their crap but put your own in there and concentrate on the 45% of losses only.


"The native copper sample consisted of PQ diamond drill core from 32 holes, from across the native copper zone (a total of 25 tonnes of core was provided). The full 25 tonnes was crushed and put through the HPGR, with 10 tonnes treated and the remaining 15 tonnes kept in reserve for additional work. The head samples contained a total of 3% Cu (2.33% Cu as native copper and 0.67% Cu as sulphide copper). The cobalt content was 660ppm. However as found with the previous bulk sample test of the native Cu ore, representative sampling of nuggety deposits on a large scale is extremely difficult and a higher final grade is expected."