CLZ 0.00% 0.1¢ classic minerals ltd

Ann: Classic Submits Call Notice To LDA Capital., page-134

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  1. 333 Posts.
    lightbulb Created with Sketch. 66
    Also consider the reported inferred resources of Kat Gap, Ada and Magdelene total 403906 0unces but remember that Ada and Magdelene are only 80 % owned by Classic. The remaining 20% is owned by Hannans so Classic`s share overall is only 328416 ounces.
    Now assuming they will be using the Gecko plant which cost Circa $3.9 million from memory and it is run at capacity which is 30 tonne per hour and to extract all the inferred gold at Kat Gap from the 975722 tonnes this is going to take many years.
    So running the plant for 10 hours per day will process 300 tonne per day 6 days per week is 1800 tonne per week.
    So not including down time it will take 542 weeks at say 48 weeks per year being 11.29 years.
    Thats about 8224 ounces per year but at a 90% recovery rate is only 7,401 ounces per year.
    No wonder this has never been mined because its simply not economic.

 
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