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DANNY2503

1,473 Posts.

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28/05/23

19:08

Post #: 68004003
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Originally posted by plough: ↑

Yes CAPEX is a moving target with NN , and gettin getting potentially more as they get hits deeper down , I am guessing for my own calculations they will need to find another $30M or more here are my amateur reasons why and I have no mining experience :

there is enough UG ore there to justify putting in a paste plant , think it is so they have foundation paste returned to the mine for machinery to work on as they mine out stopes and progressively work up the mine guess you could get one second hand for $5M .

Be nice to see a potential mine plan to get the most tonnage out , without one I am guessing they will want to stope simultaneously on separate levels say 100 meters vertically apart and then mine up to the stope above with several levels/drives in between say 25 meters apart.

If they do that they will need the decline to go from the Gilbeys pit which is guessing 200 meters deep to at least 30 meters under a crown pillar ( they will have to engineer the exact thickness) then , spiral down to say 150 meters below , poster Wassa seems to understand this more than me .
They have costed in the initial decline to the ore body in the capital they already have , but the spiral from there down which would be say 1.6km in linear length ( 1:8 grade) and the drives out guessing 400 meters total , I feel will need further capital of say another $12M ($6000 linear meter) plus a vent shaft

12M for mine development 1M for vent , 5M for paste plant , $3M for spares , 10M for working capital
that is another 31M needed without even looking at bringing Melville a deposit probably 100kms away into the mine plan that would need a road

if this goes over 800 meters deep then I am guessing a headframe and shaft is on the cards at least long term ,

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Cheers mate for the invaluable lessons, I really enjoy reading your comments. Helps so much to try an understand the basics for us amateurs that want to try and understand.

GLTAH
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GCY Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
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Cheers mate for the invaluable lessons, I really enjoy reading...

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Cheers mate for the invaluable lessons, I really enjoy reading...

Top Stories

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

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Vulcan appoints investment bank and M&A veteran to board

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