"SPR's approach is very optimistic on both production and mine life as it does not allow for recoveries being less than 100% (the GCY days had recoveries 85% to 90% but may be higher if the SPR test work is realised ie may get to 90%). "
How do you come up with SPR assuming recoveries are 100% ?
"I also note that the BGL deposit seems much more complex than Dalangara especially NN which is much simpler - will that result in SPR being able to extract a greater proportion of the gold at NN and Dalangara?"
Agreed BGL has a number of different ore UG bodies , intuitively they would be shorter in ore contact to contact with the country rock than Never never which makes the % of indicated converting to reserve lower
You have not inputted in a restriction on the how many vertical meters a year can be mined at Never never from one decline without creating a cluster F--K , I am thinking about 100 meters which limits the tonnage and therefore the ounces per annum they can pull out of NN UG
You are most likely more knowledgeable than me as you have upper management/board mining experience , so take what I say with a grain of salt
SPR Price at posting:
49.8¢ Sentiment: None Disclosure: Held
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