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60.5¢ spartan resources limited

They should be accessing ore soon or already.goldprice will be...

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albatrosss

19,799 Posts.

636

22/01/20

07:03

Post #: 42504274
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Originally posted by getrealplease: ↑

Lets do some maths google earth shows the old pit is 1000-1100m long
It was mined by Equigold to 120m maybe a bit deeper. They didn't leave ore under the wall waiting to be mined so its all waste.
Final pit depth is 270m. So want to go another 150m in depth...
If you use a wall angle of 45 degrees to keep the maths simple then that means you take the wall back 150m
So volume equals length x width x depth = 1050 x 150 x 120 = 18.9 M BCM say $6 /BCM = $113.4 M

Now don't do it one hit do it say 50m at a time that should be room enough to mine and then you can take the old pit down say 40m in depth and the main orebody ounces will pay for the next cut etc Everyone kept busy through this process not sure about capacity to repay debt though..

Minimum cash required for first cut is say $30-$35M. Minus any material mined off this wall already...

Time to do more than 6 mths less than 12 mths. A lot of factors can affect this...

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They should be accessing ore soon or already.
goldprice will be helping.
qrtly out this week or next .
has been no update. Is that good or bad?
i guess good.

GCY Price at posting: 3.9¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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Last 60.5¢		Change -0.010(1.63%)		Mkt cap ! $584.5M

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