I am not really sure how to post pictures from PDFs so I have attached the link from a Harmony presentation regarding the uranium asset from 2007 (prefeasibility):
Refer to pages 11-12. I have also copied the text from p11.
Ie approx 370 tonnes processed per ounce of gold Opex of 1665 rand/ton Which is only 230 AUD!
This is based on plant throughput of 500000t/month
Obviously the mathematics don't quite add up here (throughput of 500000tonnes/month at grade 0.084 only leads to some 16000 ounces/yr which is some short of current production!) + costs are only likely to have increased in the intervening period. However, it does suggest that the there are plenty of efficiencies that could kick in.
I also posted this earlier (hidden in another post)- the 60% share of Harmony was sold at ~1.6billion rand some 3 yrs ago. Since then, gold prices have gone up, the uranium project is more developed and inflation has gone up- so our discount of ~30% seems pretty cheap!
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Understand uranium resources through an extensive drilling and data capturing exercise - Currently proving reasonable expectation for economic extraction in line with SAMREC conventions - Drilling and sampling practices overseen by independent third party - From 56 tailings dams 11 have been prioritised for current drilling based on historical gold and uranium values: - 5 dams in Randfontein containing 360Mt � 5 190m drilled to date - 6 dams in Free State containing 280Mt � 3 835m drilled to date - Preliminary results expected end June 2007 Uranium current progress Processing assumptions - All tailings are treated through uranium plant - Uranium tails are treated through a float plant (10% of mass concentrating 50% of the gold to gold plant) - Treat concentrate at 50 000t per month through existing gold plant - Recover 54% of the uranium and 70% of the gold in concentrate
GDO Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
