Originally posted by ghosta
It seems Ramper Bob would like to correct Keith Barron on an important matter. Thanks to HH this was posted on CEO forums and make interesting reading.
" I forgot to mention this but Keith was dead wrong on one thing and its important. The output from the Tomra is direct shipping rock. It will not be made into dore bar by Novo, there is no need...........the output from the sorter will be bagged, weighed and shipped direct to the Perth Mint"
Pretty impessive! Almost pure gold shipped to the mint! No wonder the Novo fanboys are holding on to their shares.
Just one small thing though....
If you look at Novos news release about progress with Tomra, illustration 2 shows the concentrate Bob believes will be direct shipped to the Perth mint in a green bin. It looks like a pile of rocks. If we use the figures Bob invented for his recent article where Novo would be mining the bottom 4 meteres of conglomerate to get a 40cm layer of gold bearing ore which averages 25g/tonne. So the average grade of the stuff put through the Tomra would be 2.5g /tonne.
Now we know the Tomra sorts to 0.3%. So a sample of the ore weighing 17 tonnes would produce a 50kg bag of concentrate. That bag would contain 17x2.5g of ore....about 1 1/3 ounces.
It would appear Bob thinks the mint is going to accept 50kg bags of rocks which contain 1.333ounces of gold instead of the dore bar they normally recieve from mining companies.
So obviously Bobs ramping does not hold up yet again. The ore WILL need to be processed into dore bar by Novo.
While this was always pretty obvious to most people and its no big deal..if the Tomra is used Novo will need a small processing plant. But this example does show Ramper Bob is pretty clueless.
Ill give Keith credit where its due. Like the rest of us he knows a processing plant will be needed.
If the Tomra proves sucessfull, then DEG will no doubt integrate the right processing technology into the plant they build if the conglomerate is a goer.
One small correction:
17x2.5 = 42.5 which is 1.5oz.
The bin is blue too.
(20min delay)