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After reading that RNS, I would have thought the SP would be nearer 5p than 4p by now
Those sample grades looked good and better than previous results - that's assuming if I've understood it correctly. I may not have.
Either I don't understand that RNS or the market doesn't. Probably me, usually is.
I've converted copper % to CuEQ using last conversion mark-up of
**CuEq Formula: CuEq = Cu% + 0.7081xAu (g/t) + 0.0075xAg (g/t)
Assuming I've done my calcs correctly:
0.48% increases to 0.53% CuEQ
0.34% increases to 0.36%CuEQ
0.33% increases to 0.34% CuEq
0.38% increases to 0.61% Cu Eq
That was to catsize.
Cop on you clown.
Always interesting that the SP moves up, then news comes out.. strange things happen I suppose
Good RNS, confidence is returning
Hi James
The cut off value s a changing variable that is influenced by commodity prices and mining processing costs that will be different for each block of ore that makes up the resource. Obviously an average across the resource will be determined, generally processing costs are more rigid but prices for for concentrate will change so they will show a range of cut off’s that would reflect different copper prices that ultimately drive the change. These met results will have a positive impact on the cut off for sure.
Hi Howezap
I also found that sentence quite interesting, to be honest I had assumed the deposit was going to be more in the 0.3% cueq range based on results released to date (granted I have limited knowledge on how the resource grade is built up). Maybe they are going to run a higher cut off to achieve a better grade?
Cheers
James
Pleasing met results release. Maybe this is the start of a news drive to coincide with completion of the modelling.
This will appease many of the concerned and give some much needed confidence all round.
>> The samples were representative of the anticipated average copper grade of the deposit, ranging from 0.33-0.48% Cu, with minor silver (1.1g/t to 3.3g/t) and trace gold (0.007g
Colin Bird, Executive Chairman said: "The results of the test work are considered typical of metal recoveries for deposits on the Lachlan Fold Belt. The Ascot overall gold grade has yet to be determined, so metallurgical work here is still at an early stage. The new report will be used to update the Bushranger concept study and was necessary to further advance the Racecourse project. We are pleased to note that there are no significant penalty elements and concentrate is regarded as clean and saleable.
No test work has been directed specifically at molybdenum recovery. Some nearby mines on the Lachlan Fold Belt are recovering molybdenum and, in one case a new circuit has been installed specifically for recovery of the metal. At Bushranger, molybdenum recovery will be disregarded for the concept study for now but could make a contribution to a future mining operation."
Let's hope that article initiates a buying frenzy.....
Oh ye of little faith. 4.09 paid!!!
4P PAID
Will it now slip back with profit takers over next week or keep on going ??
No idea!
Hopefully we'll reach 4p before AGM! Still ridiculously low so I'll be very bold and say 5p.
The results are usually good for this quarter (and Q3) and historically released less than a month after the period ends. I wonder if CB is waiting to release them just before the AGM next week? A nice hors d'oeuvre ??
If not, then it will be nearly 2 months since end of period and that could imply they may be average at best?
I think it more likely we will get them just prior to AGM.
We'll see.
Yes, sounds like the CEO of AA is laying the groundwork for justifying an acquisition.
“If we find something that’s on our sheet already, that’s at the right price, that we can afford to do it at that point in time, I don’t think we’d be scared to do it.” so they are definitely looking!!
Let's hope so. I would be surprised if our beloved leader isn't exchanging a few pleasentries with one or more potential buyers. Blessings be upon his head :)
LOL thats mean :)
I don’t know if anyone else has seen this but the CEO of AA is unsure where all the copper needed is going to come from! They must be talking to XTR if they know there is a shortage.
https://m.miningweekly.com/article/anglo-americans-new-boss-sounds-warning-on-future-copper-supply-2022-07-29/rep_id:3861
Andmillsy,
Thanks for the numbers and rationale.
Wow, I thought it was this morning! Mental clocks wrong. Maybe that's what Colin is suffering from.
Hahaha I forgot I put that here this morning.
The only 'official' info we have on the buyback clause is in the original RNS and the wording is open to interpretation. Now we are getting close, we really need to find out the details at the AGM.
AA have a one time opportunity to buy back into the project before it falls away, unless any part of the project is in Xtracts half excluding the half way line. And any part of that resource…..no hang on that’s not right is it ?
no