AIC really needed Jericho .
Jericho has made an enormous difference to the economics for A1M , and gives a future likely greater than doubling++ of high grade copper resources for Eloise - Jericho overall. With decent enough gold+ credits.
Without getting into including Jericho surrounding ground, or the entire portfolio of resources tenements in the region ex -MEP/DRM ,as well as OZL and SFR JV land, and ex SFR resources and land.
However this is interesting to understand .
And it seems Jericho ground, and Jericho’s deeper resources
had to be secured , as we knew -but really to safely take the ‘plunge’, to develop further deeply the Eloise mine towards what was the ex- Minotaur and Demetallica boundary of the Eloise mine ground.
As explained by the underground mining guy- you really want to have extra ore laterally, if possible, to help justify the lower level you developing , for the development ++ costs of the expansion.
To add at depth for Eloise, the additional deeper underground cooling and the ventilation systems required significantly too - Eloise always has been hot as an underground mine. Of course.
Deeper is serious issue requiring extra cooling, & air transfer paramount.
As a whole for the lower deep level access and development -best if can maximise laterally.
Good to be only making the decisions necessary, knowing you also own the ground towards which you are headed as you plunge down.
A1m knew that Eloise deeps extended into under Jericho land , being MEP/ DRM shareholder land. Likely the Andromeda takeover deal of MEP delayed their necessary plans, for the future and for security of Eloise continued mining.
It wasn’t good without DRM basically - more than the synergy with identical chemistry ore, and clear synergy with Eloise mill capacity and exact setup within 4 kilometres for the Jericho open pit development to be.
As we always knew - Eloise was becoming very deep, in the Deeps.
And lower copper prices meant a true threat again to viability of the Eloise mine. Jericho the required addition.
Now assures operations for the decade ahead & the deeper Deeps mine development.
Adjacent at depth, Jericho was confirmed by Eloise previous owners, when A1M largest shareholder was contract mining Eloise, to have the deeper & high grade copper ore, as likely continuation of main ore body , best accessed via the existing Eloise deep underground mining operations.
Memories - of our DRM ceo starkly showing this exactly, as the truth, when detailing Jericho and Demetallica’s resources and exploration land- to investors
During takeover period, AIC protested and postured, that DRM resources were not so economic or such high value to them, with a relatively low priced all script takeover offer, for the full acquisition of Demetallica’s shares.
Interesting and worthwhile viewing the Money of Mine daily videoe from Tuesday, and this one on Wednesday when Eloise Deeps extension is discussed and explained.
Best wishes to all .
(20min delay)