Ann: Koolan Island High Grade Iron Ore Shipments to Accelerate, page-23

First 23 Last

Share
Profile

Follow
Travvo88

632 Posts.

42

07/04/23

23:00

Post #: 67188862
Share

Originally posted by Goodheart: ↑

The guidance given by Peter Kerr over past years has not been met on several occassions. In particular the guidance regarding the stripping of over burden / low grade material that was continually revised and ended up taking a lot longer than originally anticipated was upsetting to investors and was reflected in the SP dropping to the 30's (if you go back through my old posts you will see I was snapping them up at the time).

Mines spend millions on geological examination of drill cores to get an indication / inferenence of a resource . . . but there is a lot of space (30 to 50 metres) between those 4 inch core samples . . . so what lays below is an indication or inferred resource . . . it is not a guarrantee.

When BHP moved out of Koolan in the 1990's they did so because they took as one article has stated "the easy pickings".

In recent reports, going as far back as before the plant fire in August, Peter Kerr has stated several times that we are now "consistently hitting high grade".
Consistently hitting high grade is great nrws . . . . but it is no guarrantee that at some time that grade will not change . . . that is a risk that we take as investors.

Peter Kerr can only make forecasts based on the geological information before him at the time.

Peter Kerr cannot predict fires or severe weather events.

Expand

The geology would be well understood. It is a simple orebody. The difficulty is the execution of mining it below sea level.

MGX Price at posting: 50.0¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

What's causing the cost-of-living crisis, and how to navigate it