I also agree with gsmi086. The third party ore buying is just a...

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MagicSeven

597 Posts.

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05/08/17

02:16

Post #: 26307192
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Originally posted by gsmi086 ↑

Sorry Nikec, no I don't think so. The intent was always to resume mining and they're exploring options maintain utilisation now that they're up against the wall. Buying straight ore is creative, and perhaps attractive to a start-up miner but I'm incredulous about their prospects. I personally don't have a problem if they buy ore to treat at any grade, as long as the effective ASIC stays below $2/lb.

Also, 4% grades is world's best exceptional, and 1.2% is very good. Most large mines have sub 1% ore.

At present, the global average copper ore grades for copper mines is approximately 0.62% of Cu content [17] and this number is expected to decrease as mines with higher ore grades become exhausted [17,18,19]. Starting from this information, the concern over the future availability of copper is on the rise, and several studies have focused on estimating the global copper peak production using Hubbert’s model, which has been estimated to be between 8 and 40 years from now [16,20,21,22,23,24].

http://www.mdpi.com/2079-9276/5/4/36/htm

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I also agree with gsmi086.

The third party ore buying is just a possible and a temporary solution till the mining has recommenced ordinary and the aisc is on a normal lvl that they are able to produce copper with a good throughput rate (hydraulic solution since July).

TGS Price at posting: 4.9¢ Sentiment: None Disclosure: Held
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