Will do me in the short term but expecting over double this within the next 12 months. Cheers
RE: Panmure Gordon (UK) Limited
Thanks tibbs.... what would cey sp be at 21x pe
Good Effort Tibbs
Good Effort Tibbs, Thank-You.
Thanks tibbs - very informative
Panmure Gordon (UK) Limited
Processing The Sukari processing plant is capable of processing oxide and sulphide ores. The 10mpta plant design comprises coarse ore stockpile, milling and CIL circuits relocated from Kori Kollo and combined with a new primary crusher, a new flotation and thickening capabilities, regrind and concentrate CIL circuit and new elution/gold room facilities for each of the CIL circuits. The original Kori Kollo processing plant was acquired in 2006 from Newmont Mining Corporation for US$11m and used to treat oxide ore and flotation tails. The new flotation, regrind and concentrate CIL circuit will treat mixed ore concentrate and sulphide ores. Stage 4 expansions effectively replicated the existing grinding and floatation circuits. 4 Stage Development Completed In February 2007 board approval was given to initiate development of the Sukari Gold Mine following a Definitive Feasibility Study (‘DFS’) investigating the development of the open pit gold mine at the site. The base case DFS provided robust economics for what is now Stage 1 and Stage 2 developments of a 4Mtpa plant producing over 200Koz of gold per annum over a 15 year mine life based on an 8.26Moz in situ resource including 3.7Moz in reserve status. The Stage 1 CIL plant was commissioned in December 2009 closely followed by Stage 2 in April 2010, which included the flotation circuit. The combined capital cost for Stage 1 and Stage 2 was US$267.5M and total capital expenditure to bring the Sukari Gold Mine into commercial production was US$450M. In Q1 2010 engineering and design of Stage 3 expansions were commenced following technical works completed in 2009 to optimise pit designs. Stage 3 expansions were commissioned in May 2011 and the secondary crusher was commissioned in Q3 2011. Total capital expenditure for Stage 3 was a further US$15.8M. Production continued to ramp up through the second half of 2011 and production above the 5Mtpa nameplate capacity was achieved during Q4 2011. The Stage 4 expansion of the Sukari mine was completed in Q1 2014 and doubled the mines processing capacity to 10mtpa and is targeting annual gold production of 450koz to 500koz. An independent scoping study was first completed by Senet Projects Limited in December 2010 and early expansion works begun in Q1 2011. Stage 4 expansions were completed at a cost of US$331.2m which came in over budget, including contingency.
Panmure Gordon (UK) Limited
Sukari Open Pit Mine The open pit operation is at the heart of the Sukari mine, producing on average 95% of the tonnes mined since 2011. Ore and waste is mined using conventional open pit mining methods. Selective mining techniques are employed to separate ore and waste. Provisions have been made for drilling and blasting all primary and oxide materials. Ore from the mine is hauled to the Run of Mine (‘ROM’) pad next to the processing plant or fed either directly into the crusher or stockpiled for future reclaim. Waste, which was initially used to construct the ROM, tailings dam, plant pad and haul roads, is sent to a single waste dump along the western and southern sides of the pit. The January 2014 Technical Report provides the pit design, which contain total rock content of 1,365Mt with 212Mt of ore at 1.10g/t. The average strip ratio is therefore 5.4:1. The geology is supportive of relatively steeply sloping walls (between 37 degrees and 40 degrees) on all sides reducing the stripping ratio. The open-pit model has dimensions of 2.6km long, 1.2km wide and has a maximum depth of 420m. Since 2010 a total of 32.9mt of ore have been mined from the pit at an average strip ratio of 2.71:1, however due to stockpiling this figure is slightly under stated. Centamin  Sukari Gold Mine In the longer term Centamin plans to operate at least two separate underground production areas. 23 July 2014 17 In the longer term Centamin plans to operate at least two separate underground production areas. The underground allow Centamin to process higher grade ore earlier than scheduled through surface mining alone. Preparations for underground mining begun in April 2009 and the portal development commenced in July 2009. The current mine plan for the Sukari Gold Project aims for one third of gold production to be from the underground mine. Although the initial objective is to fully investigate the expected ground conditions and provide access for additional drilling and geotechnical investigations. An initial underground mining rate of up to 750kt per annum at a grade of 8.5g/t gold is being targeted. However, the company indicates that underground infrastructure can support up to 1.5mtpa, we are modelling up to 1mtpa given the high volumes in recent periods. 587kt were mined in 2013 and 436kt mined in the first half of 2014 (grade remains below target levels). Before Centamin commenced underground mining, historic workings were limited to 110m depth with very little stoping development along small areas of strike. By the end of 2013 Centamin had advanced underground development to a total of 15,766m, extending down to 770m vertical depth. The Amun decline is the primary development, which is currently in an area below the current open pit in the Hapi Zone. The secondary Ptah decline, which was commenced in October 2011, will provide for haulage and ventilation to the lower level of the deposit’s northern portion below the ulti
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