Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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In October the company achieved a total development meterage of 411m or 13.25m per day - this works out to four development faces being blasted once a day.
At the time of the October updat RNS, the plans attached showed tgat there were 50m of lateral development required on the first 2 levels to reach their end point, which would take about 11 days. So they would have reached there end point by the 27th November.
Before production blasting can commence, a drop raise needs to be mined between the two levels, in a process taking about 2 weeks, although production drilling can take place while the drop raise is being mined. On tgat basis, I am expecting that stope to be open and in production in the next week.
From 15/11/21 RNS;
'As development in the lower mine continued throughout the third quarter, first ore was intersected in both the Upper Footwall Zone ("UFZ") and Lower Footwall ("LFZ") zones. The increase in mill feed grade through the period is largely due to high grade development ore mined in the UFZ, where development rounds have ranged from 2% to greater than 12% copper. Typically, gold grades in the UFZ are also elevated compared to the LFZ. First stoping from both the LFZ and UFZ is expected to begin in December 2021.'
End of Oct. 21 - 1097 tonnes remaining from forward sales contract with 521 tonnes mined in Oct. 21. Not sure if that helps, but expect hedge to be cleared YE hopefully. GLA, Dan
HelpMe01, I understand the nature of the hedge. However, there is a minimum delverable volume. In March it looked like this:
"As at March 31, 2021, there are 3,022 tonnes of copper to be fulfilled at $7,700 for the remainder of the year."
My question (to the group) is simply can we clear that tonnange commitment from a single stope, or will we have had to recruit additional stopes to hit that minimum?
THE HEDGE is the presold copper, rmm sold half of year production in front for the price of 3.5. Now rmm have to give it all untill end of the year and we are close. Read rns's.
If we clear the hedge this year as planned / forecast, does that mean we have expanded to multiple stopes, or could the hedge be met from a single stope? Activating multiple stopes might not be RNS-able, so calculating multi-stope activity via other evidence like this would be useful.