My numbers from the releases and prospectus..
120kt Mt Norma ore (JORC measured group- prospectus) x .02 (Average Grade 2%)= 2400t contained copper
You never get more than 80% recovery from SX over a 3-5 month basis
2400t Cu x say 70% recovery= 1680t recovered metal
1680t recovered Cu x 2205 (to convert to pounds)= 3.7M pounds of recovered Cu metal in copper sulfate form.
Current copper price $3.84 per lb USD (*****metals.com) = $5.96 AUD per lb
$5.96 per lb (AUD Cu price) - TNC AISC $1.40 per lb
= $4.56 AUD per lb profit (for copper sulphate production)
= 3.7M pounds x $4.56
= $16.87M profit from crystal production over 5 months basis.
One would imagine this is going to pay for Mt Oxide/Cloncurry exploration and ops.
Another box ticked in my opinion.... Look forward to seeing the mining re-start- they are saying decision out shortly..
We are due for another exploration announcement!!
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- Ann: Copper Sulphate Production Update - August 2023
Ann: Copper Sulphate Production Update - August 2023, page-9
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