After re-reading the Hod Maden PFS and consulting others, I need to point out an error in my analysis with regard to this statement:
"EVEN if they recover 77% of the gold, nearly HALF of that may not be marketable and the pyrite cleaner circuit may be removed!"
Gold recovery is in fact 77% in bulk flotation after fine regrinding (30μm). All of which report to the copper concentrate. However, gold recovery is 39% in bulk flotation (open circuit) after primary grinding. Below is the cost curve for various grind sizes:
My 85% Cu recovery and 50% Au recovery is still a standard assumption for primary grinding/re-grinding. My thesis remains the same with regard to Rupice - that the cost/benefit trade-off favors a flow sheet incorporating primary grinding/re-grinding to minimize CapEx/OpEx, as the marginal gold recovery will have minimal impact on cash flows. Incorporating fine grinding and/or leaching the tails would have a negative impact on the Net Present Value.
Here are operating metrics at Hod Maden. Assuming underground mining, Rupice should have higher mining costs (ramp, room and pillar vs. cheap long-hole stoping at Hod Maden) but offset by much lower ore processing costs due to energy savings (Again, refer to the energy cost curve above):
The above noted, I've always assumed the high end of the OpEx range at ~US$80/t for underground mining (vs. $66.5/t at Hod Maden) in efforts to keep my models conservative.
Hope this was helpful to all!
- Forums
- ASX - By Stock
- Ann: Adriatic Metals Corporate Presentation
After re-reading the Hod Maden PFS and consulting others, I need...
-
-
- There are more pages in this discussion • 179 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADT (ASX) to my watchlist
(20min delay)
|
|||||
Last
$3.69 |
Change
-0.090(2.38%) |
Mkt cap ! $1.035B |
Open | High | Low | Value | Volume |
$3.75 | $3.76 | $3.66 | $1.869M | 505.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
24 | 15889 | $3.68 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.69 | 7323 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 13788 | 3.680 |
12 | 10298 | 3.670 |
16 | 13390 | 3.660 |
10 | 53659 | 3.650 |
6 | 6213 | 3.640 |
Price($) | Vol. | No. |
---|---|---|
3.690 | 9324 | 8 |
3.700 | 11208 | 13 |
3.710 | 21583 | 19 |
3.720 | 26842 | 13 |
3.730 | 5458 | 8 |
Last trade - 12.47pm 05/07/2024 (20 minute delay) ? |
Featured News
ADT (ASX) Chart |