Ann: Update on Hammer Mill 3 Commissioning, page-3

First 3 Last

Share
Profile

Follow
Merchant2000

24,984 Posts.

985

18/04/18

09:49

Post #: 32517760
Share

Originally posted by qqqqqqqqq ↑

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%. Higher grade run of mine ore to be processed as part of final commissioning

• HM3 commissioning expected to be completed by the end of April, with May the first full month of commercial production utilising run of mine ore. HM3 commissioning did encounter some delays due to equipment breakdowns (not unusual given recommissioning) and spare parts availability (2-3 weeks in total). Key issues have been addressed to ensure optimal results when processing run of mine ore as opposed to lower grade development ore • Final commissioning involves processing 5,428 tonnes of a blend of low, medium and highgrade 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 • Of note, the smaller test Hammer Mill 2 produced 12.94 ounces of gold doré from 15 tonnes of run of mine ore from the Mestre and central Zones for 26.84 g/t (see Photos 2, 3 and 4) as a test run.

HM4 arriving in May to be sequenced into Cascavel plant operations with capacity of 50 tonnes per hour • Level 5 Mestre was reached on 10 April with a vein that appears to range between 0.5 and 2.5 metres (see Map 1 and Photos 2, 3 and 4). So far OGX has mined 25 metres of this lode.

HM2 processed four tonnes of this material in mid-April and returned an average grade of 26.4 g/t gold • Cost savings of 30% on track for Q2’18 as part of 'Back to Basics' strategy • Drilling along strike and down dip at Cascavel and Cuca will commence in mid-May. Results from Eliseo’s (25 km north of Cascavel) initial pit sampling programme and the first 3 holes at Antenna (8 km to the south of Cascavel) on track to be reported before end of April. The results from the Cobalt rock chip sampling at Tintiero (2 km west of Cascavel) are also expected then. Drilling at Sertão (25 km south of Cascavel) also planned to commence late May.

Expand

Am I reading the results correctly

Hope not - does not look good

OGX Price at posting: 8.5¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

CCO

The Calmer Co FY25 revenue hits $8 million, up 86% on FY24

GLF

Gemlife used the ASX's new IPO fast-track. Is this the start of a new cycle?

ASX Market Close: Local bourse dips red as CBA profit takers swoop

There are more pages in this discussion • 82 more messages in this thread...

First 3 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Ann: Update on Hammer Mill 3 Commissioning, page-3

Top Stories

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

The Calmer Co FY25 revenue hits $8 million, up 86% on FY24

Gemlife used the ASX's new IPO fast-track. Is this the start of a new cycle?

ASX Market Close: Local bourse dips red as CBA profit takers swoop

Featured News