Not all secondary deposits are the same, page-2

First 2 Last

Share
Profile

Follow
Davisite

19,903 Posts.

7220

02/05/17

19:38

Post #: 24421011
Share

Originally posted by TwinTurboCelica ↑

I was reading some information from GIA about the MRM deposit which I found interesting. People seem to be quoting this "secondary deposits are higher quality" mantra. Well, it seems that is actually not true, and they seem to varying a lot in in yield and quality.

Take it for what you will. I'm not trying to downramp. I hold no stock and have no spare cash to do so at any price. Maybe this has been discussed before (I haven't been following MUS for long) so apologies if it has.

Hopefully some people find the below of value.

---------------------------

PRODUCTION
As part of its bulk sampling operation, MRM has handled around 1.8 million tons of rock at Montepuez, recovering approximately 8 million carats of ruby and sapphire of various colors. The company hopes to double its capacity to 3.6 million tons of rock in 2015 and eventually increase that figure to 10 million tons of rock a year.

The actual recovery of ruby in the secondary deposits is more difficult to predict. The amount of ruby per ton can vary dramatically, and so can the quality of the rubies recovered. For example, the recovery rate in Mugloto pit 3 is relatively low: 0.60–1 gram per ton of ore processed. Yet the pit yields high-quality ruby, making it economically advantageous to sample, even with the low recovery rate. This pit also produces some large rough crystals of 6–8 grams. For comparison, Maninge Nice has a higher recovery rate of 20–35 grams per ton, but generally produces much lower-value material.

Overall, the recovery rate for the primary deposit is around 162 carats per ton, while the secondary deposits produce 31 carats per ton. The figure for the secondary deposits includes only processed gravels and not the amount of overburden topsoil moved.

Expand

Mugloto is a secondary source while Maningrida Nice is a primary source.

Please can people go and read the GEM JORC on their website - it is hundreds of pages long and explains everything in great detail. I will go so far as to say nobody should buy a single share in MUS without reading it.

MUS Price at posting: 4.0¢ Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

Trump chides Powell as Goldman call for calm. The RBA must be nervous

KGD

Kula picks up unexplored niobium play in Malawi, with surface samples logged

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

NMG

New Murchison Gold blasts off at Crown Prince as 'better than expected' results return

THL

Tourism Holdings says Liberation Day tariffs smashed US RV demand

There are more pages in this discussion • 35 more messages in this thread...

First 2 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Not all secondary deposits are the same, page-2

Top Stories

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Kula picks up unexplored niobium play in Malawi, with surface samples logged

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

New Murchison Gold blasts off at Crown Prince as 'better than expected' results return

Tourism Holdings says Liberation Day tariffs smashed US RV demand

Featured News