The grade is on the low side. This is due to the lower cut off grade of .06% they used which increases the amount of ore in the model. This is possible due to the use of the XRT sorters tech. Off the back of this they have increased the life of mine of the open cut by 3 years up to 7. My assumption would be that most of this low grade ore would have been mined as waste but is now valuable XRT sorter feed.
The original Barruecopardo plan had an expected 9 year mine life from mid 2019. This would of taken the mine through to July 2028. With the XRT sorters and a review of the grade/ore/plan EQR have extended it by 3 years.
"During ramp-up, the XRT Sorting Plant achieved ore grade upgrades of >25-times, with a sorter feed grade of below 0.06% WO3 processed into a sorter concentrate with a grade of 1.5-2% WO3." -15 Feb 2024 ann
EQR Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
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