I've just been checking out Costerfield to see how significant Antimony is as a money spinner. They produced 3,380 Tonnes of it last year 2021, equivalent to 20,976 Oz of Gold. At today's Gold Price of $2,640/Oz, the Gross Revenue from their Antimony would be (at today's gold price) $55m.
Wow that's a lot to make from Antimony but what would the profit be. Their cost/Oz of Gold was $1,120-$1,330 (say $1,220/Oz.) So total costs of $25.6m.
Net Profit: Gr Revenue - Costs.
$55m - $25.6m
$29.4m profit in 2021
Conclusion
• Antimony is a Revenue generator & can be highly profitable & not just a side issue.
• Getting both Gold & Antimony together obviously reduces mining costs but it can also increase profits considerably & in Costerfield case, to the tune of approx $30m pa in profit.
• So Antimony is a Resource in its own right.
• Question: does NAGs have commercial grade Antimony, well we are yet to find out but if the results from the 2006 Drill Hole are an indication, then there could be a Costerfield deposit at NAGs also.
• The grades in that 1st Drill Hole were actually better than Costerfield but we are yet to find out how big the deposit is.
• We need both grades & volume but it's a good start.
