CDU 0.00% 23.5¢ cudeco limited

reserves, page-60

  1. 573 Posts.
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    Trucking of Roseby native copper ore anywhere will never happen at current copper prices, and I would imagine would still be marginal historic highs, unless there is some sort of game-changing development in processing technology.

    Roseby NCu is low grade and much of the native copper is refractory, being contained as microscopic inclusions in biotite. The style of the NCu mineralisation is in my opinion incompatible with the Rocklands process plant.

    As for trucking ore to a distal process plant, the main drivers are obviously distance, ore-grade, and processing costs at the site. In this regard, big plants like EHM and MICO have huge advantages over smaller plants like Rocklands, Great Australia or Eloise. I would imagine process costs for the 10Mtpa plants would be in the order of ~$10/tonne, whereas smaller plants like Eloise run at closer to $30/tonne. I dont know what Rocklands will end up running at, but I would be pleasantly surprised (and a little astounded) if they could process ore (sulphide flotation I'm talking about here - the Ncu processing should be cheaper) at less than $20/tonne, particularly with their complex flowsheet, mixed ore-types that will require very careful management and batching to preserve recoveries, and expensive electricity.
    The higher grade sulphide material from the north end of Little Eva could probably be trucked to process at Rocklands, as could the higher grade material from Lady Clayre, although that is one tiny little deposit. Hard to see the primary sulphide material from below the Roseby native copper deposits ever getting trucked off-site - unlike Little Eva and Lady Clayre is has no gold credits, and no really juicy high-grade yet discovered.

    However, if CDU did start looking to expand and find other projects before it had paid a dividend (as SFR has), I reckon you could kiss your divies goodbye.
 
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