I do wonder if TNC is planning to mine Taipan pit in the next...

I do wonder if TNC is planning to mine Taipan pit in the next year, which is beside RNX’s 3.1 Mt @ 0.55%Cu & 0..07 g/t Au Mongoose Deposit, then it is only logical for RNX to progress the development of this resource during the same timeframe.

When assuming, Cu price is AUD$13,700 per tonne & Au price is AUD$3,700 per ounce, 2nd Aug 2024 then,
Mongoose Deposit JORC resource contains 17,000 tonnes of copper worth $233 million & 7,300 oz of gold worth AUD$27 million, or a total of AUD$260 million. Considering this is for a resource of 3.1 Mt then every tonne of ore is worth around $84 per tonne (in ground value).

Now, in terms of Mongoose “West” resource potential. It has a large geophysical footprint of +500 long, high copper and gold grades (surface outcropping) and would be expected to provide 1.0 to 2.0 Mt of additional ore to the mining tenement. This could translate into AUD$84 to AUD$168 million of in ground value for the business.

Therefore, overall Mongoose Deposit and Mongoose West have a potential value of at least AUD$344 million to AUD$428 million, or average in ground value of AUD$386 million for up to 4.6 Mt of ore.



If RNX could leverage toll treatment with TNC (via any Glencore agreement or Ernest Henry mine transitional-fresh sulphide ore treatment options) then significant revenue opportunities become available in a very short period for minimal capital outlay. This type of toll treatment for Mongoose shallow ores could help fund future Mongoose Deeps exploration as well as return money to shareholders.

It seems logical that any mining at Taipan Pit by TNC would incorporate Mongoose Deposit materials. Robert has mentioned, by mining Mongoose Deposit it allows TNC to expand their Taipan pit shell (hence be wider and deeper) to access additional metal units from their resource. A win-win for both parties.

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Reference:






TNC Noosa Presentation (18th July 2024)






DYOR