2% Cu is a good underground copper grade 4% Cu-eq is a better underground grade
0.8% Cu-eq cut-off is a reflection of estimated costs, met recoveries and metal prices. As price goes up, cut-off goes down. The resource cut-off grade is often lower than that used for the reserve. This is allowed by JORC. It is lower to include material which might reasonably become economic in the future of a mine.
At Antler I doubt that changing the cut-off from 1.0% to 0.8% makes much difference as much of the mineralisation goes from higher grade to nought. In any event, any tonnes gained from the drop in cut-off grade would not add much metal. There is an increase of 16% in contained metal which is not to be sneezed at.
It will be interesting to see whether the mining dilution (mining method) is similar to that estimated (used) in the PFS or whether a method is chosen which incorporates less dilution.
NWC Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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