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start up scenario at nobles nob

  1. 7,675 Posts.
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    chamonix
    have noted your comments of late re;commencement of mining and in part i agree with your comments on timelines
    I believe however there is a possible scenario that could expedite the production scenario and there are several factors that may support my idea and bring forward those timelines considerably (perhaps)
    thought i would put it out there and see what thoughts you and others have

    mitigating factors
    1. NT govt extremely keen to fasttrack mining projects
    2. No native title on EXM tenements
    3. tenements littered with existing (historic) mines
    4. Existing roads, power grid and other valuable infrastructure already in place on tenements thanks to previous mine operators.
    5. Metallurgical testwork indicates above 95% recovery rates

    SCENARIO

    Nobles Nob
    168,400 t @ 7.89 g/t gold for 42,737 Oz JORC compliant
    plus COPPER

    A large part of this resource lies directly below the old pit floor with grade control drilling previously performed to a distance of approx 9m below old pit floor with many holes ending in mineralisation.
    So the pit has already been dug
    no overburden to remove
    I assume some minor redesign of pit will be required
    Surely green and red tape approvals are a given as it is already a mine
    This to me seems the ideal extreme low cost option for commencement of mining that will provide the funds required to support other open pit operations

    43,000 Oz x A$1000 oz = A$43,000,000 revenue less costs (costs would have to come in at the lower end of the spectrum lets say A$300)= A$30m profit
    very rough numbers but it gets my point across

    COPPER WILL ALSO ADD TO ECONOMICS SUBSTANTIALLY

    what are peoples thoughts ?
 
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