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Yes you are correct Oz and Yes we are all guilty of...

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pangea

300 Posts.

69

15/04/15

13:04

Post #: 15091296
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Originally posted by ozblue ↑

Pangea, would I be correct in assuming you are an ex-industry person that comes on to HC to impart your considerable industy knowledge to many unsuspecting punters here. If so are there occasions where you might get it a bit wrong because of lack of all information.

For example the Kevitsa and Aitik mines inside the arctic circle are incredibly low grade but profitable, much lower grade than N-B and now Succoth(perhaps). Is it possible that with different costs, mine size etc. Perhaps higher cap costs but larger mine, with lower costs, with high grading the first few years to pay off the higher cap costs?
To me what I can see is the high cost of fuel ending up being almost 50% of ongoing costs based on generators for the plant, and diesel equipment, compared to Boliden at Aitik (with .2% Cu) running nearly 40mt/a on electricity that costs them 3.7c/kwh??

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Yes you are correct Oz and Yes we are all guilty of oversight/mistakes from time to time.

Very familiar with these two mines (visited Boliden's Aitik mine) and they were capitalised in happier times. Fortunately, they have operated long enough to repay their creditors/investors and have sustained low energy costs as you pointed out so remain open (just) with some incremental gains to throughput.

CZI Price at posting: 9.1¢ Sentiment: Sell Disclosure: Not Held
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