Hi Reggie and Rocket (and others?) Do you have any indication of...

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hiphoppresident

852 Posts.

13/05/15

20:20

Post #: 15273806
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Hi Reggie and Rocket (and others?)

Do you have any indication of the timeframe for the grant of the Aravalli LOI?

Is the grant of the LOI dependent on the finalisation of a project equity stake / funding arrangement (Since one of the criteria that DMG looks at is the financial situation of the company)?

If you guys could shed some light on this matter it would be appreciated as I have been scratching my head over this.

As you know, LOI is needed as a prerequisite to mine plan, jorc drilling, environment/forest clearances and mine closure plan.

Which leads me to another (rhetorical?) qyestion: When is the funding coming?! We need it to progress this monster of a mine!

Thoughts?

HH

Originally posted by hiphoppresident ↑

Hi guys

Is it just me who is excited about the huge amounts of silver that is part of IRL's land?

The 17.3 sq km ML looks to me to be 5 times larger than Sindesar Khurd with mineralisation essentially the same from Dariba through Sindesar Khurd to Bamnia.

This means IRL should have up to 400 to 500 million tonnes lead zinc and silver.

ALL IMO.

http://wiki.advfn.com/en/Hindustan_Zinc

Sindesar Khurd

Sindesar Khurd is a zinc-lead underground mine that is also rich in silver. The mine was commissioned in 2006 and ore production capacity is currently 1.5mtpa but is targeted to rise to 2mtpa. The mine has reserves of 10mt out of total resources of 58mt with the reserve grades being 4.93% Zn and 2.78% Pb. A dedicated 350tpa Silver refinery has recently been commissioned with the aim of raising annual production to 16moz which will lift Hindustan Zinc into the top ten silver producers world wide.

Rajpura Dariba

Rajpura Dariba underground mine was commissioned in 1983 and currently has ore production capacity of 0.9mtpa. In FY 2010 Rajpura Dariba produced 21.96 kt of contained zinc and 5.35 kt of contained lead. The mine has total reserves and resources of 40mt with reserve grades of 6.8% Zn and 1.77% Pb. The ore from Rajpura Dariba is also rich in silver.

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Last edited by hiphoppresident: 13/05/15

IRL Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
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