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2,877 Posts.
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02/09/10
20:16
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Here are my basic calculations (feel free to critique) :
From the JORC statement, Las Minerale main zone is 1600 x 250 x 35 m
(strike x depth x width, from surface).
W x L x D = 14 million cubic metres
x sg 2.7 = 38 million tonnes of ore
38Mt x 24% = 9Mt
Average grade in mineralised zone 4.37% Cu (according to recent bulk test)
9Mt x 4.37% = 393,000 tonnes Cu (not CuEq)
Assume 90% Cu recovery
=> 353,700 tonnes = 778,000,000 lbs
At $3.50/lb
=> $2.7B
which should be recoverable in the first 4 years.
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