Point taken, and I was talking about then (Woulfe/Almonty takeover), not now. 1:- At the time of acquisition from Woulfe Mining Corp by Almonty they did have 3 mines, but one was undergoing a mill refurbishment at that time, which was Wolfram Camp Australia. I consider it was a working mine, but agree it was not producing ore at that same time. Regular maintenance does not mean a mine is dead.
2:- Los Santos was producing ore back then at 2016 and is now cleaning up the tailings dams and recovering ore through the flotation process before restarting (maybe) the last 4 years of underground mining. Production is still ongoing. The reason for this is not to open up new tailings dams, but to reuse the old to reduce enviro impact on the land. then, I think when this mine mine is exhausted the plan might be to move as much reusable equipment as possible to the future Valtreixal tin/tungsten project in north western Spain, which should be a serious start after Sangdong is at full production capacity. Some mining permits are already approved to date.
3:- Almonty bought the XRT Ore Sorters for Panasqueira mine in Portugal, a mine that has been running for well over 130 years. These machines hand pick ore from waste using high pressure air jet blasts and nuclear scanning tech to pick the ore out by photo scanning the material as it goes over the conveyor belt. A 10% increase in production. The tailings/flotation tech is also applied to this project, as recovering fines product from old tailings dams does mean more product, no need to add more tailings ponds and keep the enviro footprint as small as possible.
So, to sum up :- Two and a half mines back then producing. Tailings :- Nil back then, now two. Production increase from tailings recovery :- +10% each.
I enjoyed this conversation, would you like more Sake ?
AII Price at posting:
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