Corrected post: (Apologies for the figures in previous post - mixing oz with grams and red wine stuffed my numbers up totally - it seems there is a fair way to go for NIU yet
).
Thanks to
@jimmydubs for spotting my error.
I decided to take an organised look at what we've been told this year, and what could be expected if the project runs as it is most recently.
The picture below shows reported data (in black) and some of my estimates (in purple):
View attachment 1240086
The last two lines are my look at what we could expect for a quarter if the most recent days (12th & 13th August) became the norm.
The first of these lines depicts a "typical" (1) day based on the two most recent days reported (12th/13th Aug). I've used a grade of 1.5g/t. This shows that 1.5g/t would not be a high enough grade to reach break-even (90g/day) at milling rates like the two most recent days. It would need to be at a minimum of 2.25g/t.
The final line considers the numbers if we ran at these rates for 80 days in a quarter.
It seems we need to be milling a higher grade of ore (more than 2.25g/t) to make this project profitable! And/or get those milling rates up significantly more.
Do we have the machinery to do that if the grades are good enough?
We do have a currently working set up - which is demonstrated by the 12th & 13th August figures.
35t Sumitomo Excavator loading either the small dump truck or the 40t Komatsu articulated dump truck.
The Kawasaki wheel-loader feeding material for screening.
The JCB 6t Excavator loading the mill feed hopper.
The mill processing the ore
