Hi Guys,
I'm not sure if EB did this already for the exploration development drive or not, but i want to do it for my self anyway and am willing to share with you in an effort to gain further knowledge through your critique.
Currently we know the SS has approx 30m of vein exposed with an average grade of 5.9% Cu
http://www.metallum.com.au/images/announcements/2014-10-20_San_sebastian_mining_permit.pdf
This I believe gives us a clear image of how much ore is sitting on the pad right now waiting to be delivered to the Toll Treatment Plant.
30m X 1.6m X 2.2m X 3 (SG)= 105.6T
Not exactly a massive ore pile
Anyway that's what they have sitting on the pad.... Now lets figure out what it would be worth if they delivered it to the plant tomorrow (not likely???)
http://www.metallum.com.au/images/a...ncement_-_El_Roble_Costs_27_February_2014.pdf
105.6T X $233.38 (Averaged down and over 6mths old) = $ 23644.93
HONESTLY>>>> this didn't start out in my mind as being a down ramp... but geez, these guys sure know how to procrastinate.
On the 27th Aug it was announced that the Option to aquire SS was signed (along with first revenue from Panga (not quantified)) and this is what 2 MONTHS of work has delivered... ACTUALLY...On the 1st of October they stated that they had 25m of vein exposed and 22 days later 30m??? Really guys??? 5m in 3 Weeks and if you believe Askari they aren't even mining at Panga anymore??
SOMETHING NEEDS TO CHANGE!!!!! or we're all down the gurgler (excluding Askari of course 'cause he's out now with a smile on his face, well played mate).
Cheers
RD
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