PRX 0.00% 0.3¢ prodigy gold nl

ABU's Coyote processing facility likely near term completion of gold

  1. 2,475 Posts.
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    Hi there Prospector28, Well done for making the effort to share thoughts & information,
    unfortunately your table inputs give me serious cause for concern, as it gives absolute clear
    example of  how many investors are interpreting all of the quarterly's information wrongly,
    your column titled " claimed to be in circuit "with 826oz,1525oz,1732oz were all
    real numbers, all recovered & poured  they were recovered from the
    Carbon Circuit.

    eg: take q-3 report 30-Sept as example 8281oz -257,539g recovered & a further
    1732 oz-53,865g in carbon circuit pending stripping, total is 311,404g divided
    with 41,000t processed thus far =7.6g p/t, head grade-mill feed is 10.8g p/t-less
    the recovered 7.6gp/t, I just mentioned is a 3.2g p/t differential x 41,000t
    processed =131,200 grams of gold that went into feed side of plant & has not
    been recovered as this is retained internally until saturation occurs.
    (Get your calculators out go back & understand your errors FFS.)

    titled " claimed to be in circuit "with 826oz,1525oz,1732oz , THIS IS
    NOTHING TO DO WITH GOLD THAT HAS BEEN ACCMULATING IN
    INTERNAL COYOTE PROCESS GRAVITY TRAPS THIS GOLD,
    is additional & is steadily accumulated until saturation occurs & has
    amounted to approx. - 30% & is real, none of this gold has been listed
    in any of the commissioning updates, as it can't be until recovered @
    a latter time when production will be interrupted as shut downs are
    required to complete maintenance tasks much will be recovered from
    mill liners etc., its then that ABU can revile what has been recovered.



    Read below as why viability determinations from the misinterpretation
    of data inputs will IMO be proven to be inaccurate .


    Re :Quarterly: many investors were disappointed with quarterly, & expecting the
    total gold  & average recovery of gold @ 7.6g p/t to be higher, unfortunately the
    quarterly reports cover pages have been MISINTERPRENTED.

    For clarification- There are two gold recovery processes involved @ coyote,  
    Gold being extracted from gravity circuit-usually gets > 80% of gold out.
    & carbon-in-pulp C.I.P- circuit usually-gets >99% of gold out.
    The total combine gold recovery from both gold recovery circuits in the
    coyote processing plant is confirmed @ 99%.

    Thus many have made assumptions that are incorrect, as the 1,730 oz your referring to
    was in the carbon-in-pulp C.I.P circuit & awaiting stripping since having been recovered
    post the end of the quarter & recovered from the 41,000t processed up until the end of the
    quarter thus being relevant & mentioned, (8,281oz & 1,732oz=10,013oz x 31.1g=311,404grams
    divided by the 41,000t processed up until the end of the quarter =the known & reported
    gold recovery thus far of 7.59g p/t-nothing new here is there ? WRONG!

    Many are not fully comprehending that as the independently verified head grade -
    (coyote mill feed)
    @ 10.9 g p/t becoming 10.85 g p/t-after the independently verified
    tailings grade @ 0.05g p/t is subtracted
    , -( only true lost gold ), leaves a substantial
    differential @ 3.25g p/t x 41,000t of ore processed up until the end of the
    quarter equates to 133,250grams/4,284oz -"$6,849,600.00au"of estimated
    gold lockup in the coyote process  circuit
    .

    The coyote mill ore feed material is high grade coarse gold in low volume,
    & therefore compounds the gold retention lock up issue.

    ( this combination is rare in today's world of primarily high volume low grade ore)

    Gold retention while saturation of gravity traps & mill liners, pump sumps etc.,
    occurs only until enough total gold volume has cycled through the processing plant,
    & as these generally low lying areas become fully saturated ( filled ) then as subsequent
    gold encounters the entrapped gold (as it has the same density)  can't be absorbed
    & therefore naturally continues to overflow & cycle through the coyote process,
    its @ this point in time the process plant will revert to normal gold recovery -
    (post saturation) gold recovery grams p/t will rise, relative to recovered gold grams
    per tonne pre saturation, & begin to correlate with the known head grade
    -(mill feed ) minus - known tailings lost gold known to be less than .05gp/t.

    Hence; 4,284oz = 30% of total gold, if added to 10,019oz recovered,
    thus far=14,303oz,  4,284 oz -x  $1,600au pog = "$6,849,600.00au"
    It therefore should taken into account when calculations & profitability
    determinations are made, these head grades-10.85g p/t feed
    & 7.6g p/t, recovered have been independently verified, therefore the
    differential is real & not @ all mystifying its inline with forecasted
    projections obtained with extensive sampling of deposits, also
    independently, verified & totally inline with the trial mine gold
    recovered g p/t, so if you doubt the existence then its been stolen,
    -(since the largest percentage of entrapped gold will be inside
    the mill  I will deem this as extremely unlikely & not plausible).


    Hope I have been able to explain this well enough as many seem to be somewhat
    confused by what i have read in there response's regarding the interpretation of the
    quarterly reports, & therefore haven't understood there is the very real potential
    for a  30% increase in gold recovery upside with the imminent completion of the
    coyote's process plants saturation cycles, therefore it becomes critical in
    determining this whole projects viability.

    Realising the importance as our AGM is only one month away i have been doing further
    analysis & scrutiny of coyote commissioning process & production updates seeking data
    that indicates that the plant is now likely saturated.

    For the 3 months ended 30 June -second quarter
    tonnes processed 12,972
    total gold-  2,388 0z -74,266 g divided by 12,972t = 5.7g p/t- head grade.
    recovered gold- 1530oz -47,583g divided by 12,972t = 3.69g p/t recovery.
    differtial-2.01g x 12,972t =26,073g -838oz -lock up


    21-September
    Tonnes processed- 28,400 x =309,560g-head grade 10.9 g p/t
    recovered gold-6,759 oz -210,204g  divided by 28,400t =7.4g p/t recovery.
    differential-3.5g p/
    t x 99,400g-3,196 oz-lock up -PEAKING!

    For the 3 months ending 30 September-third quarter.
    Tonnes processed-  41,000t= 10.8 g p/t head grade..
    recovered gold-10,013 oz-311,404g =7.6 p/t recovery.
    differential-3.2g p/t-131,000 oz-4,218 oz- BEGINNING TO DROP!,


    Noted ; the highest differential between head grade & recovered gold appears to have
    peaked-seen as 3.5 g p/t.
    This is exactly what you will see happen just after complete plant saturation occurs,
    indicating higher recovery of gold per tonne -(even though head grade reduced slightly).
    Once plant saturation occurs things change very fast-like a large drum
    filling with water once full -(saturation occurs )what goes in comes out.

    It could also be coincidental as with old pirates ore being so variable in grade, but given
    the time frame & strong indication that there is approx. 4,280 oz already locked up,
    I would put my money on complete saturation having occurred, ABU would obviously
    see a substantial increase in gold recovery v/s head grade over the next couple of gold
    pours, this would be expected & confirm.

    Upon the coyote process plants saturation & conformation of up to an approx. 30%
    increase in the recovery gold g p/t, would strongly indicate the project being
    determined as a highly profitable long term mining & processing operation that can
    return wealth to all s/h & therefore does not require any further capital raising &
    dilution to existing holders, as further exploration & development can come from
    derived revenue, & be in keeping with ABU's desire for staged development.

    Therefore as ABU has recently declared commercial production- 01/10/15  & is by its
    own admission is now cash flow positive, with the likely near term completion of gold
    saturation of the coyote gold processing facility being achieved, & upon achieving
    the mine versus mill grade reconciliation variance would also decrease, enabling
    potentially up to a 30% increase in gold recovery & revenue through gold sales,
    that it would be prudent & in the best interest of share holders to postpone
    below resolutions 3,4 & 5-( listed as special business ),
    allowing ABU directors, management & investors to be more informed
    prior to making these potentially very important decisions.


      Requesting ABM resources Directors amend & postpone AGM
    - special business items recorded as
    resolution 4- Ratification of prior issue -placement of shares to
    sophisticated & professional investors.
    resolution 5-Ratification of prior issue-placement of shares to
    Pacific Road Capital Management pty ltd
    resolution 6-approval of 10%-additional placement capacity
    IMO-sal​
 
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