Huge, you sum it up quite well. The grades from Maul u/g are impressive. 53m at 3.3%, 17.8m at 2.9% 26m at 2.1% all signify that the probability that Malu u/g is a goer is very very high.
You may be able to help me here. Ankata was brought on line to maintain 100,000tpa of copper production. If they bring on Malu u/g and it produces say another 25,000tpa of copper, does that mean that they slow down the open pit mining or just put it all on the ROM pad?
I am still not yet getting excited about Khamsin. It starts at 1/2km below the surface and until a resource is determined, I cannot tell whether it would be profitable to mine. Remember, as the grade decreases, the size of the ore body needs to increase to get a reserve defined.
For me, I need to see C1 costs start to trend down and to see cash on the bal sheet start to go up before my faith in management is restored.
HT1
OZL Price at posting:
$4.50 Sentiment: None Disclosure: Held
