AWJ 5.56% 17.0¢ auric mining limited

They reckoned 40,000 tonnes to be processed and a start date of...

  1. 5 Posts.
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    They reckoned 40,000 tonnes to be processed and a start date of Tuesday, so we can presume that more or less is happening.
    I understand the mill cranks through about 3000 tonnes of rock per day.
    Can't see any valid reason why BML would put through lots of high grade ore to start with. Much better to flush the circuit with low grade and see how it stacks up with good grade being pumped in in the latter half of the campaign. I'm presuming the same metallurgical team will be on board as last year, that company being JT's, who have a very good reputation. We have to also remember that the tonnes being delivered by BML are what they call wet tonnes. Dry tonnes will be about 95% of the total dropped on the ROM pad for crushing and milling. Looking back through the ASX releases of Auric it shows about a 95% recovery of gold bearing ore going through the mill. All that being said then 40,000t becomes about 36,000 tonnes to calculate from. Last year the grade average 1.86g/t, so if we took a stab at it of 1.6 g/t for this first campaign then that would be 57,600 grams of gold or around 1852 ounces. If you can sell it at $3700 an ounce that will be $6.85 million in revenue. In other words a good way to start the year and although I am only a recent buyer of the stock, I can see clearly that Auric and BML are going to make a lot of money from JF in 2024. I'm banking on at least 20,000 ounces of gold, which must be close to $30 million to split between the partners. I know that is pretty bolshy, but I do have a communist edge to my thinking. As I bought into Auric at a bit over 12 cents already I am doing well, however IMHO you can see every reason for the share price to be well over 40 cents. At current prices it has to be a super opportunity to acquire more. I want to buy more!!! (just have to get my collective to give me the go ahead.)


    https://hotcopper.com.au/data/attachments/6111/6111257-78867e4a41a19ffc2c5e6fc034074fbd.jpg

 
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