Ann: Extension of Etango PFS Following Recent Fav, page-22

re: Ann: Extension of Etango PFS Following Re... Sackblabbeth

I am heading out this morning so don have too much time to answer. So here is a quick go:

Back in November, in response to the GFC and the lower spot price, BMN started to investigate cheaper methods of mining. Heap Leach (HL) is cheaper on CAPEX and on OPEX. So they have been spending a lot of time on heap leach testing. Bearing in mind the conventional Agitated Tank Leaching (ATL) method was what they had spent over 12 months work on!! Now they had to start from the beginning with HL.

They have tested other beneficiation methods including magnet sorting, such a Rossing used, but it didnt improve much. NOW.... they have come up with an alternative in the Flotation circuit.

So now studying TWO options:
1] Heap Leach
2] ATL with an additional flotation circuit to benificiate the ore (increase grade)

Just some info:

ATL is the best route to mine & process. It costs a hell of a lot more, but you process the ore VERY quickly with heated, agitated tanks, hence make up the cost

Heap Leach is MUCH cheaper & the banks will like it ... but its slower (28 days on the pad) ... cheaper helps to make up for some of that.

A third option is if the can work out to use ATL for the first few years then ADD a heap Leach like PDN at Langer Heinrich .... then its a winner

I will talk more later .. but IMO this is what they are studying to do

cheers for now