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5.0¢ hillgrove resources limited

Kanmantoo Copper mine ready to go ? For real ?, page-29

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jophda

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17/04/23

18:30

Post #: 67318775
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Hot Copper back of the envelope calculations usually come up with ridiculously optimistic numbers .
What went wrong with that one ?

Originally posted by plough: ↑

Geofij got a question how can you validate this as economic to mine ?
From my perspective under the pit I only see about 170 M of strike length potential , and about 10 meters of ore body width , so about 5000 tonnes per vertical meter at SG3
Lets say it averages around 1.5% Cu that is worth about US$135 a tonne so that is about a 2 gram a tonne AU eq with Au around US70 a gram.
How many underground mines in Australia can run at 2 grams a tonne Au with only what looks to be around 270 OVM eq which would make development upward of 10% of costs per oz using about $50k per OVM decline cost) ?

Be interested in your perspective geofiji?

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HGO Price at posting: 5.6¢ Sentiment: Hold Disclosure: Held
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