ORS 0.00% 1.3¢ octagonal resources limited

Trireme, that all depends on the recovered grades which are...

  1. 239 Posts.
    Trireme, that all depends on the recovered grades which are still unknown but A1 estimates somewhere around 5-11g/t from the 1650 level stockworks. There is visible gold in some of the ore. At the contracted processing rate of 50k tonnes/pa,

    5g/t = ~8000oz = ~$1.25m net to ORS (10% @ $1600oz)
    10g/t = ~16000oz = ~$2.5m net to ORS (10% @ $1600oz)
    20g/t = ~32000oz = ~$5m net to ORS (10% @ $1600oz)

    Plus ORS should see a reduction in fixed costs as A1 will pick up the tab for plant operations/maintenance during the toll treatment period.

    There is still 100k tonnes/pa mill capacity for the union hill decline (100% ownership) which is due start producing ore later this year. Estimated grades are around 12g/t.

    Earnings could exceed current MC by the end of the year all going well.
 
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