Can someone explain to me why we are bothering with the LOMP and doing the following points below just for the Chinese to take over the project for a song in July ? Shareholders will not see any of these results or benefits. with many of the new initiatives are being completed during this QTR.
If these Initiatives are successful I am sure many of us will be willing to invest more into the company to reduce the debt, or
the company could be in a better position to negotiate with its lenders a new debt package.
Cashflow improvement initiatives During the quarter, a number of initiatives designed to improve the operating cash flow continue to be progressed or identified. These included:
1. Improving tank leach throughput
A significant improvement in tank leach performance has been achieved in 2017 and by December the tank leach process was consistently outperforming the designed throughput.
Work continues to further debottleneck the process towards achieving 75 tonnes per hour throughput in
Q2 2018 and improve copper recovery.
2. Trial mining and heap leach processing of Kipoi North ore
The pre-existing low-grade heap leach feed stockpiles at Kipoi were fully depleted in October 2017.
The trial mining and processing of Kipoi North was designed to generate heap leach feed material through to end Q1 2018 and productively utilise the capacity of the heap leach stacking facility.
The current phase of mining and stacking of Kipoi North ore has been completed during the quarter.
The opportunity for further mining and processing of additional Kipoi North ore is being evaluated.
3. Fines optimised heap leaching
Work progressed during the quarter, with the arrival and installation of the 38tph pilot plant. The pilot plant commenced operation in Q2 2018 and may create an opportunity for early recovery of the copper contained in the fines stockpiles at Kipoi.
4. Sourcing third-party ore
The company has entered into a third-party ore purchase agreement, with delivery of the third-party ore commencing in Q2 2018.
Cobalt
The Kipoi operation leaches cobalt into solution as a result of leaching copper. The opportunity to recover the cobalt from solution and to produce a saleable product is being considered within the Life of Mine Plan (LOMP). The Company will provide further updates as the LOMP work is completed.
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