Hi elixer8, Unfortunately if you recall Coyote was in no condition to run anything!
ABU spent millions on plant refurbishments & site works prior commencement
of operations, alas we also had prior to leasing Coyote, the so called reassurance
of having run a 10,000 t test parcel of Old Pirate ore through our onsite trial mining
gravity recovery gold processing plant, this, coupled with the additional reassurance
from Mr Andrew Fergusons -recommendation to the rest of ABU's directors that we
go against the recommendations of a comprehensive comparison having been completed
by a specifically formed committee- that had after evaluating ABU's two options made
recommendation to our BOOF HEAD- BOD at the time that ABU-"NOT "proceed
with the intended leasing of Coyote from Tanami nl, but instead utilise
the onsite gravity plant at Old Pirate-( I will add the leasing of Coyote was
"exactly inline" with the memorandum of understanding signed between
Tanami Gold NL & ABU approx. two years before it eventuated )
There you go elixer8, My previous post was giving example of the reality that
the Gold is still sitting in Ground at Old Pirate & O/P achieved a recovered grams
per tonne reconciliation average of 6g p/t.
ABU has since recovered additional Gold from the combination of the last
mined good by cut-(Bob miner explained in his post ), extracted gold from
Coyote's gold gravity traps & recovery of adsorbed gold from activated carbon.
Obviously since our cash reserves were bolstered when the above mentioned combined
gold was sold, we can rationalise when the above additional Gold recovered is added
to the tally, it will further increase the average gold recovered per tonne from Old Pirate.
I would imagine we will receive consolidated numbers associated with O/P when end
of year financials are released to market some time before the end of the month.
Average recovered gold above 6 g p/t, as implied in my original post gives example of
ABU's many future options, & as Bobminer has mentioned- should a small efficient
economy of scale underground mining operation eventuate its almost laughable that
6 gp/t would be considered a drastic low & likely not any were near Datum,
Gold recovery with out all the previous costs & dilution experienced with Coyote
should result in double figure g p/t recovery-therefore, I doubt its the last we
will hear of Old Pirate, the more the POG rises the higher the potential of it becoming
reality & O/P's Gold utilised as a future revenue source.
imo-gltah
salt
(20min delay)