Australia's largest stock trading and investment forum Australia's #1 stock forum

OGX

0.00%

0.3¢ orinoco gold limited

"That means Hammer Mill concept works and they are getting...

First 111 Last

Share
Profile

Follow
jasmac

1,961 Posts.

38

18/04/18

13:38

Post #: 32527459
Share

Originally posted by Ruddy123 ↑

Ok so I have read it 2 times to see what's happening, my take but few of the experts can have there point of view:

1) "Commissioning issues which is normal whenever we start producing and this one is a really old mine"

2) Hammer Mill 3 (HM3) production of 131.4 ounces of gold in doré during 7.5-day initial commissioning run-time in March (i.e., average of 17.5 ounces per day)" - "HM3 was fed with 640 tonnes of tailings, low and medium grade ores and mine development material producing an average 6.4 g/t grade and an estimated recovery of 83.9%
That means Hammer Mill concept works and they are getting 6.4g/ton and this is only Tailings.

3) “HM3 commissioning expected to be completed by the end of April” “Final commissioning involves processing 5,428 tonnes of a blend of low, medium and high-grade ores and development material currently on the pad and another 1,041 tonnes of mainly high-grade ore which is underground awaiting haulage. HM3 being run at 50% capacity of 25 tonnes per hour until commissioning irons out some of the equipment breakdowns in other parts of the gravity mill, which should be overcome before the end of April”

So for April this means they are processing 5428+1041 = 6469 Tonnes of mixed grades, Lets say even if it’s more than tailing a little bit 8g/ton (very conservative in this case) = 6,469 X 8 = 51744 g / 28.934 = 1,825 ounce of gold for month of April

Let me know if I have missed something. I certainly see this as good news because Hammer Mil lost cost solution works which is still the back to old age approach. But remember

Expand

"That means Hammer Mill concept works and they are getting 6.4g/ton and this is only Tailings.''

Yes I think the hammer mill system is working far betetr.. however - No - not tailings .. tailings is waste product produced after already having been process - this is mixed - tailings, low grade, medium grade developement material. So the tailings portion has been processed once (badly ) by the last bod.. plus a mix from low and medium grades.. not JUSt tailings.

I wouldnt mind knowing when they will be doing a tailings run via HM3 and what the result is as well.

Last edited by jasmac: 18/04/18

OGX Price at posting: 7.3¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

Eurozone-based companies find new ways to secure a regional lithium supply

End of FY is a time to juggle wins, losses and capital gains taxes

SS1

Sun Silver submits US$60M Silver Paste Funding Application to US DoE

Time for retail therapy buying in the shopping Scentre for hot stocks

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks