CAI 0.00% 11.5¢ calidus resources limited

DR is doing the best with what he has. But I am thinking CAI...

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    DR is doing the best with what he has. But I am thinking CAI actually needed a bigger mill to feed higher volumes of lower grade ore. CMM can make a profit from 0.9 g/t ore because their mill is 4-5Mtpa, ours is 2-2.4Mtpa. This was the problem Dacian faced. Their operation probably could have been ok if their mill was 5Mtpa, but it was 3Mtpa so couldn't keep their head above water. My view is most new gold mines with resource grades around 1g/t will need to go with big mills to be safe. AUC has proposed doing just this.

    The current debottlenecking may help with an extra 5% ore run rate, but we're not going to be getting to 2.6Mtpa.

    We need higher grade ore fast. Hopefully that grade control drilling at Felix shows readily accessible ore that can be trucked to WGP. Just hope the metallurgy works.

    My 2 cents.
    Last edited by Jonnyash: 22/04/23
 
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