plant upgrade misses target.next qtr
This has been a stock for the patient investor ,and I don’t mind waiting for a company that is working on improving profits
No I can not see fleas on this one ,only behind in upgrade due to equipment delivery delays ,
When you read the recent report it looks like it all starts to look better for SMCGold in Feb and March with a increase in resources and production
Extracts from DECEMBER QUARTER PRODUCTION SUMMARY FOR 3 MONTHS TO 31 DECEMBER 2005
Last week, SMC Gold announced that a drilling programme to further extend and upgrade the resources at Cinabrio is scheduled to commence in the second week of February 2006. The objectives of the new drilling programme are to: _ Upgrade the Mineral Resource categories of the current resource in which approximately half are already in the higher Measured and Indicated Resource categories _ Provide information for detailed mine planning so that Resource categories can be upgraded to Reserve status _ Confirm the grades and continuation of mineralisation along strike and at depth It is expected that the new drilling programme will increase Resources and Reserves at Cinabrio which will strengthen the company’s asset base and balance sheet and consequently our ability to raise debt capital to pursue growth opportunities such as the plant expansion and copper oxide project.
Grinding Circuit The grinding circuit consists of a standard rod / ball mill circuit with the ball mill operating in closed circuit with cyclones. The rod mill was installed during the December quarter as part of the planned expansion programme. The rod mill grinding performance will be improved during the March quarter by the commissioning of a screen, allowing operation in closed circuit. The performance of the ball mill will also be improved by the use of smaller cyclones which will operate more efficiently than the current cyclones. Both of these installations are now almost complete and will be commissioned in early February.
Flotation Circuit The flotation circuit is made up of a combination of column cells and conventional float cells. Rougher flotation is currently being performed by column cells which are noted for their efficient recovery of fine particles. However, their performance is not as effective in recovering coarse particles and the column cells will be replaced in early February by conventional float cells. This is expected to result in improved flotation performance. The average flotation concentrate grade obtained during December was 23% Cu. Mineralogical assessment of a sample of final concentrate indicated that there were significant amounts of liberated pyrite and non-sulphide gangue contained within the concentrate. This indicates that with optimisation of flotation froth levels / reagent
scheme and operating practices / flow configuration, the target final concentrate copper grade of 30% Cu is achievable.
SMO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
