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22/12/17

09:29

Post #: 29822600
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Originally posted by alemond ↑

HI SJB,

I know that you were not critical of me, do not worry about it you seems to be a very honest person and I respect that a lot.

Yes I have done some research about Orinoco and also I am a mining industry professional with the bulk of my career in operation and planning, thats the reason why I am trying to paint the right picture for you guys.

Even with comminution problems and low recovery rates on the plant, lets say 80% or 75%, if the ore was let's say 30 g/t and the plant process about 2kt month, with a mine recovery of 85% : 2000 x 30 x 0.75 x 0.85 = 38 250 grams / 31.104 = 1229 Ounces, this numbers seems to be awesome, but there a trick thing that changes everything, the dilution. If the gold vein has 10cm width and the minimum stope width for extraction is about 1.2m tall, with lets say 2.8t/m3 density rock, we will have the vein representing just 8.3% in mass of the total extracted volume, so for each tonne of material mined just 83kg of ore @ 30g/t, so calculating the total gold contained: 0.083t x 30g/t x0.75 x 0.85 = 1.59 g/t recovered per each tonne of material processed by the plant, thats the reason why I believe that the grades announced are in situ grades and not the proper mined grades. Lets put this way, IN SITU GRADES = the ore grade of the orebody before the extraction/dilution, MINED GRADE = the real ore grade of the ore after extraction with the dilution applied. Hope this answer helps to understand what could be the issue.

Thanks SJB

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Hi Alemond
Not being in the mining industry myself the points you make sound valid and may explain some of the difficulty we have had in producing gold grades in line with the impressive samples taken. In this case can I ask what has attracted you to hold this particular share?
Thanks - Mark

OGX Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
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