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George, he's had the Astra Zenica Vaccine. I simply call up Bill Gates and ask him for an update.
Lucky, is this the role of board member howezap per chance ? :-)
I have wondered what the economics would be between racecourse and footrot if fotroot has a resource. Would 7km of conveyor belts be economic or would you move the processing plants and set up a new system?
That would be my bet, Xeiger
If 500m is the 'core' then the mineralisation body could have a radius of up to 150m (300m deposit size) and still be perfect for open cast mining - perfect for a small mining company that has just sold a massive prospect...
Well we fitted an electric tracking collar on him and when he's bad or goes where he shouldn't we zap him.
Just out of interest, how do folks manage to keep a track of where CB is at any given time ? Where is he normally based ?
Joeman, agree with your thoughts. I got the feeling from the first three Amigos podcast that Colin is the one pushing footrot as a target. I suppose there is always a chance that the 500M doeth is the bullseye and there are mineralised halos around it which are shallower. Either way it's been a feature since the licence was purchased so will be good to know one way or another.
Thanks Sq52 for the Footrot info.
I would be very surprised if we don't hear about the first drill hole on Monday morning. If we don't it's either still going and finding mineralisation or we're waiting for CB to return from his hols.... No seriously, I think his hols will not affect the delivery of news in any way.
Slightly different topic, is CB back on holiday? And if so will we have to wait for our next RNS for him to get back?
A 7km stretch of porphyries, so good you said it twice.
Falls into previous CB district comments.
Lol don’t ask
Footrot I’m hoping will be surprisingly good as the insistence from Colin to stick a recon hole in it regardless of what is found at racecourse. Even if all the remaining drilling is used to start infilling to realise and increase the existing open pit potential. They ‘still’ want to stick a hole in there. There seems to be an air of confidence about footrot. And as these type of porphyry are found in clusters the Hope would be to find further in between along the 7km corridor. All easily accessible from racecourse by cave mining further down the line. (If economics dictate)
Footrot I’m hoping will be surprisingly good as the insistence from Colin to stick a recon hole in it regardless of what is found at racecourse. Even if all the remaining drilling is used to start infilling to realise the existing open pit potential. They ‘still’ want to stick a hole in there. There seems to be an air of confidence about footrot. And as these type of porphyry are found in clusters the Hope would be to find further in between along the 7km corridor. All easily accessible from racecourse by cave mining further down the line. (If economics dictate)
Footrot RNS has the data on depth:
This combined data set shows a large chargeability anomaly over more than 1km length at about 500m depth in the west of the prospect area
Thoughts based on prior interviews was AA didn’t drill the right location. Also, if it’s 500m depth, then AA won’t have gone deep enough as well.
I don't remember anybody saying that Footrot starts 500 m down but maybe I missed something.
Thoughts from me.... if the expert geologist thinks its worth drilling, I dont want to argue..... if the copper starts at 500m down and the % comes back too low to mine at that depth then the upside is we can stick a pin in it and move on.
Personally I would drill to at least find out, but with the results already looking so good at racecourse I would keep 95% of my focus there.
Use the last 2 holes from a campaign to relocate the rigs and speculatively drill footrot while the assay results are being waited on for the main event.
I'm no expert though.
Howezap I agree. The fact that the resource is in Aus, is close to Sydney and open pit must surely pump up the price a big miner would pay. In addition, if BR is the size we hope then this is the sort of mine that could become a hub for decades due to it location and size.
4 or 5% ? Now that would make a lot more difference than a few $ on the price of Cu.
Potentially selling…. That’s important to understand for accuracy at present
Footrot is an unknown at the moment. There's clearly something there but it could be a wet squib or even another BR.
Conservative estimates in calculations are returning good numbers back that must be outside of most ‘earlier’ investors expectations considering the confidence of the team this will exceed 2mt now.
Bear in mind we are not just selling a mineral resource but an ore reserve that will be open pit-able. Are there any variables that are used for calculating the value of such? I would have thought it would be of a higher premium value added, considering the lower CapEx required to initially mine, as against were just selling minerals in the ground.
I understand footrot is another target and something Colin is clearly excited by, but I was surprised that the IP targets were 500m down , didn't seem as appealing due to the amount of overburden, thoughts ?
Interesting, so in let's say 6 mths to a year's time we could have a JORC at 3 to 4 MT Cu and a major willing to pay more than 3% of value. £1 a share anyone? Lol. I can dream can't I?
Yes A444, I meant to add that Footrot was being ignored. I have a feeling that should BR be sold to AA, CB may well keep Footrot for XTR as a home grown development.
Cygnus
Screen & L520,
Yes, I tried to veer very much to the conservative side of things so I ended up with 2 M T but that figure could indeed be a lot higher. It's just a matter of the market getting to gripps with the potential.
Cygnus
And those calcs are excluding Footrot !
I suspect the 3% buyout is on the low side given the location and how pro mining Australia is.
I don't however think anyone will use $10k copper price at the moment. It is a peak which won't be used. It could however be used if copper goes to $15k a tonne between now and when we sell it.
Who knows where the copper price will be but it is a major factor when we come to sell.
Hopefully the copper price stays high and 10k is considered the new normal.