@mileraFCResponding here and not on the chart thread regarding how mineable the project is. A: Very.
For context RNU's Strip was 1.5 in the first 10 years rising to 1.9 thereafter.
For those not aware strip ratio is the amount of ore vs the amount of waste you need to dig up. So a ratio of 1.5 means: 1.5T of waste mined for 1T of ore. The same as a ratio shown as 3:2. i.e. 3 tonne waste for 2 tonnes ore. 3/2 = 1.5.
I think ITM's is going to be the same or better over the LoM. That's due to the ore body orientation and thickness. Let me show you some basic drawings on the profile of the ore body. Each shows a theoretical mine design based on them mining deeper etc.
In the early years this is what the mine pit is going to look like. The ore body continues into the page and towards us. Essentially you're looking a cross section. An ore body of this design essentially means an elongated (gutter) type pit similar to what i've drawn.
View attachment 5320042You can see that in the rough pit design, you're going to end up with more ore than waste. So it would maybe even be 0.75:1 meaning you are actually mining ore more than you are waste! That's very very good.
naturally as you go deeper you'll need to grab more waste to keep extraction the ore at depth. But even the below is a strip of 1:1 which is still better than others including RNU. Again these are just very very basic observations and eventually studies would validate the actual numbers but this looks very good and very mineable.
The best thing is there is probably around 80mT if this resource continues across the 6km strike. ITM said it was 60m true thickness but i assumed 50m just incase.
View attachment 5320051Once they have to go down below 100m or 150m they've potentially got lacroma east right next door at surface. So they don't have to keep chasing this deeper. All things consider 80mT is still a huge LoM resource so if they want to double that again they can just drill lacroma east and prove another 80mt or so there.
Sometimes market does weird things but this is looking very attractive on all economical fronts.
SF2TH
