MRC 0.00% 2.7¢ mineral commodities ltd

Ann: Quarterly Activities Report - March 2022, page-139

  1. 142 Posts.
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    Spid

    They may be going to beach 1-5 as stated, but how many tonnes do you think there are to mine?
    You could probably go to beach 1-5 with your kids and mine it with buckets and spades on a Sunday afternoon in summer and deplete the resource.
    No disrespect to MRC for trying to be proactive (and it does look desperate), but they would be better off shutting it all down and putting it on C&M until they are given the rights to mine the inland strand.
    The northern beaches have pretty much been exhausted where the majority of the mineral was located from Beach 7-10, with Beach 10 being the primary location for minerals (the JORC table below will indicate total measured tonnes).
    Between beach 7-10 they have almost mined the measured resources in 2021-2022, what resource is available at beaches 1-5 is a mystery, and in advance I will guess not much.

    It makes no sense to pocket mine beaches 1-5 (see below image of where the resources were defined), whilst at the same time mining the original Tormin beaches that have been exhausted already, to blend with the higher grade northern beaches in order to keep things ticking along running at breakeven or at a marginal profit at best.

    Remember the mine is powered by diesel generators like the mining fleet, and currently the prices for oil are at historic highs and not looking at coming down for while, or until such time as the USA change its current fossil fuel policies.

    Replenishment of the Northern Beaches will be slower as it is further away from the J curve to the south.

    https://hotcopper.com.au/data/attachments/4424/4424255-b5bf006368bfa9d5bbfba0c719613a50.jpg
    https://hotcopper.com.au/data/attachments/4424/4424274-c7832733be339e4da7c047077d14b120.jpg


    https://hotcopper.com.au/data/attachments/4424/4424261-01e84f3768c18aaf8b7d664ed33417fb.jpg
 
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