RXM 7.14% 22.5¢ rex minerals limited

Bearing in mind that at the current price of copper, copper...

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    Bearing in mind that at the current price of copper, copper grade cut-offs not previously considered, are now very profitable.

    The May 2015 ore resource reports the cutoff as 0.2% Cu. Which is a copper equivalent cutoff.

    Now based on the 2020 Feasibility Study Update published on their website, the marginal cut based on today's spot prices is

    Marginal Cutoff
    = (Processing + G&A)* Exchange Rate/(Copper price x Processing Recovery)
    =((10.43/tonne+1.92/tonne))*0.78/(US$4.44/lb x 92% x 2204lb/tonne)
    =0.0010699
    =0.107%

    So with a cutoff today, half of what was assumed in 2015 I would have to say there must be some mineralised waste that is now profitable. But without knowing what the grade/tonnage curve looks like it is impossible to say how much more.

 
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