Ann: New MD discusses Exploration at Ballarat and, page-3

re: Ann: New MD discusses Exploration at Ball... what i will be looking for at Ballarat as the mining method is "small is beautiful"

such as - find the smallest boggers on the market or adapt bobcats to suit the situation, construct the access tunnels (drives) using the smallest jumbos available or to suit the size of the boggers, ventilate using the smallest possible bore or tube size ... other temporary services to suit the tunnel - an access tunnel of 2.3 by 2.3 metres might be OK but less if possible

that might get the total tunnelling costs down to about $1500 per metre so a tunnel length of 100 metres comes to $150,000

worked example for a small pod:

if a pod yielded 1000 ounces
revenue = $1,300,000
tunnel cost = $200,000
extraction and processing = $200 per tonne of ore (typical for underground mining)
extracted tonnes = 2000 (assume at 15 g/t)
total costs for extraction and processing = $400,000
total cash costs = $600,000
cash costs per ounce = $600

for my method there would need to be about 10 crews working the mine all at different places (called stopes)

i'm seeing why Lihir gave up on it, "small" was not their style at all, couldn't accept it

[Note well: if the structure of the ore body is quite different to what I expect then all this stuff above is a load of BS"]