If you have read the 43-101 for Pantanillo you know that the LoM strip ratio is 1.8:1 .... so 1.8t of waste to every tonne of ore. In the context of open pit RoM heap leaching proposed that is on the low side not the high side. And there is a 43-101 for RIO2's Fenix project also. The strip ratio there is an impressive 0.85:1 ... but the grade is lower than Pantanillo
Project
Strip Ratio (LOM)
Ore Grade (g/t Au)
LOM Gold Production
Mine Life
Pantanillo
1.8:1
~0.69
~1.05 Moz
Not specified
Fenix
0.85:1
~0.49
~1.32 Moz
16–17 years
Pantanillo's higher strip ratio dictates more waste must be removed per tonne of ore, potentially leading to higher mining costs - BUT the higher ore grade (~0.69 g/t Au) yields more gold per tonne of ore processed ... and at $3,000/t Au that makes Pantanillo ore much more valuable and IMO offers more advantages than Fenix's lower strip ratio.
It's already 100Ktpa Au gold possibly and going higher as per the work described in the announcement.
JIMHO and I'm no geologist
FLG Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
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