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Yes, that was the only part I took issue with. I don't think the average grade will run that high, unless they simply ignore the last 18 months drilling, where virtually nothing met even those modest levels.
My friend would also be very interested.
The RC model would be a great issue now ..... coming immediately on the back of the good recovery numbers.
Any chance of us getting it before the AGM Colin? Asking for a friend :-)
slowly slowly catch the monkey.
Curiosity had the better of me to see what recovery rates Newcrest were achieving at Cadia. They have recently undergone a big expansion project due to complete late this year costing $175m for the build phase that will increase plant capacity and increase recovery rates for gold and copper by 3.5% and 2.7% respectively, with Projected recovery rate over LOM for copper will increase to 85.2% and gold to 80.3%
So initial met test results of 89-90% for Racecourse are very encouraging and potentially we are seeing the difference in geology between the two types of deposit as RC is more copper dominant and if I recall rightly from an interview many months ago, Colin predicted that there would be less issues at separation because of the reduced gold.
Will be interesting to see how much the copper recovery rate for ascot reduces in comparison as has stronger amounts of silver and gold.
We appear to be the main story on the home page. Well it looks like it to me any way??
https://www.lse.co.uk/
Forgot to add, we are the highest climber in our sector. Not bad for a low volume day and a metals update...
A good day today - back above 4p and the best close since june. Quickly recover ing back to the 6p Mark which seemed to be the kind of equilibrium before.
The rns was solid. Recovery and metal production sounds pretty boring but we need to show we can produce the commercial concentration and how we do that. The answer is very boringly and quite cheaply. The economic model when it's produced will carry more weight with this kind of info and importantly there isn't anything there that will worry or scare away any buyers.
Good day, maybe 4.5 - 5p by the agm?
Another significant milestone proving up a commercial resource.
Nice RNS today and a very decent chance for a few good news occurrences on the bounce here now, I'd hope..
In any which order:
Good Africa Gold Q2 production update (traditionally a strong Q... so hopefully ditto this time)
Positive forward view off the back of a good AGM
Good Fairbride early stage production figures for August
Positive next Bushranger Update - or two- in whatever shape/form
So hopefully the s/p wakes up from its lowly levels over the coming weeks, Please !
Hi Andrew
It’s not often I disagree with you, but I think the fact that copper has gone down in price is the reason gold is worth more when expressed in cueq so not sure it’s good news.
The overall RNS read well to me though for sure (and I could be wrong about the above)
Cheers
James
HI James
Could be, but whatever the reason, it appears to be very good news !
Hi Andrew
I’ve not looked into it but I’d guess it’s a case of the gold being worth more vs copper than when the holes were originally drilled rather than being better.
Cheers
James
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!