CYM

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2.8¢ cyprium metals limited

Ann: RC Drilling Commenced at Nanadie Well Copper-Gold Project, page-11

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Nikshar

182 Posts.

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08/01/21

14:57

Post #: 50037928
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Originally posted by sydneysider: ↑

Conceptual tonnage guesstimate Nanadie Well supergene zone. Currently being drilled over a 750m strike zone (open at both ends), width of 200m and near surface depth of 9m for a conceptual tonnage target of 3,375,000 tonnes @ average copper grade of 1.05% and gold of 0.27 g/t for a total of 35,437.5 tonnes of copper and 30,375 ounces of gold (these are averages of 11 data points in most recent IR). JORC confirmation will come from 64 RC holes drilled to a depth of 50m.

At US$3.67 per pound of copper this equates to 23.1 pounds per tonne or US$84.78 / A$108.52 per tonne plus A$22.12 of gold for a total of $130.64 per tonne. At A$2,458 ounce / $81.93 gram of gold, equates to 1.60 g/t gold AND applying shallow open pit mining methods and leach technology should be very cheap to mine. Assuming an OPEX that is applied in gold mining ($1200 per ounce / $40 gram), will cost CYM $40 x 1.6g/t = $64 to recover cash of ($130.64-$64) of $66.64 per tonne.

So 3,375,000 tonnes x $66.64 = $224,910,000 from which CAPEX must be deducted with ballpark guesstimate of $75.0M for process plant rated at 10,000 tpa??.
These are very ballpark guesstimates BUT they are indicating that an accumulation of several deposits (which have already been defined) with a LOM of +8 years becomes very profitable. IMHO CYM is a near term 5x conceptual share price target BEFORE we get to the deeper ore.

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Good numbers, i think they have a Cue project from MGV as well with a JORC.
I am bit new to CYM, is there any catch there?

CYM Price at posting: 24.5¢ Sentiment: Buy Disclosure: Held
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Ann: RC Drilling Commenced at Nanadie Well Copper-Gold Project, page-11

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Ann: RC Drilling Commenced at Nanadie Well Copper-Gold Project, page-11

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