Finally got around to reading the announcement properly. Surprised there hasn't been much discussion on this:
"During the Quarter, a range of metallurgy and communication results were received which supported a simplified flow sheet to produce copper on site via leaching, solvent extraction and electrowinning. During previous mining at Oracle Ridge in the 1990’s a bulk copper, silver and gold concentrate was produced on site using a standard flotation circuit and sold to a nearby smelter. Recovery was not optimum as there was reportedly up to 50% scat recirculating load which impacted processing. This suggests that with improved plant infrastructure (such as appropriate crushers including a pebble crusher), strong metallurgical recoveries can be achieved while also producing high grade concentrates."
Looks like the glycine test results were positive (though would have liked to see some more detail on the results here) and they can use a simplified flow sheet, albeit with a bit of extra capex for some extra crushers. This is a great sign, particularly that they can process more on-site and will likely boost any future DCF/NPV outcomes.
Now we're really just waiting for the copper price to turn which is what i've been banking on for this year. Some worrying signs at the macro level but i'm still quite confident we'll see an improvement in copper economics because of future demand.
EM2 Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
