Given current spot prices:
- US$2.95/lb copper
- US$1,840/oz gold
Revenue expected to be approximately A$1.4 million to $1.8 million per annum and was intially based on 120,000 tonnes per annum and targeted annual head grade of 1.4% copper and 0.3g/t gold.
@1.4% copper and 0.3g/t gold
1t of ore with 1% Cu is worth(2.95/0.000453592)/100=$65.04
1t of ore with 1g/t Au is worth (1840/31.1035)=$59.161g/t
Au is equivalent to 59.16/65.04=0.91% Cu
Therefore CuEq= Cu + (0.91Au)
Therefore CuEq=1.4 + (0.91 × 0.3) = 1.67%
However, Initial production now targeting 1.8% copper and 0.5g/t gold head grade
@1.8% copper and 0.5g/t gold
Therefore CuEq= Cu + (0.91Au)
Therefore CuEq=1.8+ (0.91 × 0.5) = 2.26%
As a back of envelope calc with this increase in the CuEq this should realise an increase in revenue of:
2.26/1.67=1.35 x expected revenue = $2.35 million.
Now if production is doubled, it closer to 4.5 million
not a bad small scale cash cow!
$?Bill in a ? Life mine, page-431
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