Ann: MOUNT MORGAN SCOPING STUDY CONFIRMS POTENTIAL FOR OPERATION, page-11

"It looks like fantasy to me. How can their cash costs possibly be that low"
Yes mining costs probably relate to a loader transporting taillings to a mill hopper
I ran some numbers 59 employees at $120K each per anum came in at around $7M or $7 a ton for labor based on a 1Mtpa thorughput they had $6.20 a ton cost
grid power at around 10c kwh and using a 4Mw plant (guessing that would be the size ) 8000 hours per annum (90% up time) came in at around their costs
0.10 * 4000 * 8000 =$3.2M = $3.20 a ton (they had $3.40)
They mention a 7Mw transfomer but I doubt if they would pull more than 70% from it .
Could not get a handle on consumable costs (floculants cyanide ball mill media ) so took their word on it
CAPEX does seem high based on the process flow sheet for a 1 Mtpa plant with no front end and much of the infrastructure in place or not needed ie accomodation ,airstrip, power supply transmission roading
ie I am sure they could get a small 1mtpa second hand ball mill for around $1M and reline it for $500k
and reagents at $8M seems over the top.
Just one thing most tailings reprocessing operations look great on paper but tend to fail.
Any way bought a few