The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Grinding Balls and Other Grinding Media: Key consumables
Cutting consumable costs is important for all mining operations, but not at the expense of quality. Grinding media represents low hanging fruit for most miners. Most often, the grinding media in question are grinding balls. In some mid-cap mines, grinding media makes up ~10% of total mining operational expenses (OPEX) and significant savings can be achieved.
Selecting the best-quality grinding media balls is considered a key step towards reducing mining costs. This post discusses grinding balls and quality control procedures that can be employed in order to select the best grinding balls for particular applications.
https://kemcore.com/blogs/news/grinding-balls-and-other-grinding-media-key-consumables
Grinding Balls and Other Grinding Media: Key consumables
Cutting consumable costs is important for all mining operations, but not at the expense of quality. Grinding media represents low hanging fruit for most miners. Most often, the grinding media in question are grinding balls. In some mid-cap mines, grinding media makes up ~10% of total mining operational expenses (OPEX) and significant savings can be achieved.
Selecting the best-quality grinding media balls is considered a key step towards reducing mining costs. This post discusses grinding balls and quality control procedures that can be employed in order to select the best grinding balls for particular applications.
https://kemcore.com/blogs/news/grinding-balls-and-other-grinding-media-key-consumables
Ball mills have been the primary piece of machinery in traditional hard rock grinding circuits for 100+ years. They are proven workhorses, with discharge mesh sizes from ~40M to <200M. Use of a ball mill is the best choice when long term, stationary milling is justified by an operation.
What if you could reduce your operating costs by 10%, or sustain mechanical availability above 90%? What if you could build a culture of zero-incident performance on your site? Or improve your operational performance and put more to your bottom line? Our team of mining experts can make it happen.
Beyond the products we provide, our mining knowledge and expertise is what sets us apart in the industry. We’re not just an equipment manufacturer; we’re a mining company. We have teams of people with decades of experience working in the industry. They have hands-on knowledge of mining machines and applications, site operations and equipment maintenance and repair, mining technologies, safety solutions, fleet management— and more.
https://www.cat.com/en_US/by-industry/mining.html
https://mbmmllc.com/products/ball-mills/
The Function of a Ball Mill
To perform its functions, the ball mill operates on the principle of impact and attrition. This principle entails that the balls are dropped from near the top of the shell in order to bring about size reduction impact.
https://raregoldnuggets.com/?p=6740
Bank of America lifts gold forecast by 10pc to $US2200 an ounce
As the peak for interest rates comes into view, Bank of America is forecasting that the price of gold will rise to $US2200 an ounce in the fourth quarter. It previously had gold at $US2000 in the December quarter.
Bank of America previously said it expected gold to rally this year, “driven by a view that central banks have no silver bullet in bringing inflation under control (e.g. energy prices or supply chain disruptions cannot be directly influenced by monetary authorities).
“A re-acceleration of China’s economy should push aluminium and copper up into year-end,” BofA said. Bloomberg
“This remains our core view and we see scope for gold to move higher once the end of the hiking cycle is reached.”
BofA said gold’s move on the banking crisis proved fleeting because Credit Suisse’s collapse came after near two decades of struggle and “the problems with regional US banks were heavily influenced by a lack of oversight”.
“As such, while we acknowledge the recent issues, they are not indicative of a wider banking crisis, in our view.”
the gnome
I think one has to be realistic about the situation in Burkina Faso. There is a lot of stuff going on in the country, that tends to negatively impact government processing (notriously slow in the best of times). Ditto for CdIvoire
So not sure your conclusion is correct, only so fast you can push the govt in those countries...
Doropo PFS is to be completed 2023 and there is a lot of exploration to be done...2023 could be a good year
regards
the gnome
I think one has to be realistic about the situation in Burkina Faso. There is a lot of stuff going on in the country, that tends to negatively impact government processing (notriously slow in the best of times). Ditto for CdIvoire
So not sure your conclusion is correct, only so fast you can push the govt in those countries...
Doropo PFS is to be completed 2023 and there is a lot of exploration to be done...2023 could be a good year
regards
the gnome
The Royal Canadian Mounted Police confirmed they are looking into a gold robbery at Pearson International Airport. Gold mined in Canada can travel through Pearson on its way to customers around the world.
The airport did not respond to a request for comment. Peel Regional Police, who are responsible for the area, asked for the Mounties’ help, the RCMP said.
The Toronto Sun reported earlier Thursday that 3,600 pounds of gold being moved through the airport had been stolen.
https://nationalpost.com/news/canada/gold-heist-at-canadas-biggest-airport-investigated-by-mounties
https://torontosun.com/opinion/columnists/major-gold-heist-at-pearson-movie-plot-turns-reality-in-gta
The paste fill plant is simply different, a mixture of material that has a bonding agent such a cement for example.
This is important ,more efficient,and quickly pumped though a tube.
The underground has the much higher grades ,and is the future for now.
If it can be eventually be recovered from the base of the open pit it will increase dramatically the overall grades of ore processed.
Thank you ,I do fully understand the need for constant maintainance.
The ball mill has been re-lined with a material that will take extra wear and is much quicker to replace in the future.
Pity others dont understand .
But many are just traders, in and out, quickly.
Theball mills of which there are at least four were done individually so production was affected to the least.
Yes the ball mill is part of the processing plant but there are many links in the chain (moving parts) involved in the production plant, Not all will need upgrading annually but as I say wear parts will need upgrading at set intervals to prevent failure. Problem is all of the working parts commenced at the same time so suggest many of the wear items will need some attention around the same time.
The plant is one thing then you need to look at other areas of the mine example open Pit mining fleet of trucks, loaders and other equipment will all have arrived on site and started at around the same time and to service 10 trucks, 3 x dozers, 2 Graders, 3 x loaders etc will all need to be programmed especially when getting to the time for rebuild and change out of components. Then the power house engines generators and switchgear will need to be programmed into the schedules. Everything and more all started close to the same time basically at mine start up and or when new equipment packages fleets are replaced.
The introduction of the new Paste Fill Plant is another case in point and will be another link in the chain that in a years time could well need some attention during the first quarter.
Dasut pardon me ,but are you commenting on the Ball Mill refurb, as the Paste fill plant is for stabilising lodes excavated underground, and is apparently new,
Thanks Dasut, that is a helpful explanation.
Best wishes,
Prof
It's like buying a new car and warranty applies providing it is serviced annually or on the anniversary of so many miles. The plant will have been the largest single capital expense and the first quarter will therefore suffer days when the plant isn't working and when it isn't working there is obviously an impact on production ounces.
An annual service and or change out of wear items is imperative to safeguard the plant efficiency.
It's just an opinion, but for me, more than anything, it conveys a lack of confidence in the numbers, the forecast.
It creates a situation that can accommodate poor results in the early stages, backed by promises/reassurance that all will come good in the second-half. - If they can't make the numbers, they then have the time and flexibility to manufacture a situation that covers their ****.- Like plant/machinery breakdowns where spares are unavailable etc. - It's never their fault. -This methodology has become a well-trodden path with Centamin. - It's rolled-out every year. - The great thing is, it doesn't seem to affect their rewards/bonuses doing it this way.. -
I think it a continuation from the previous management. They were kicking the can down the road for the next quarter or the 2nd part of the year, promising lots but not delivering in the last few years. I think they spoke if 600,000 ozs one year about 3 weeks before down grading?
It is always nice to break the back of a job and then be able to ease off. It would be nice to see a decent amount mined In Q1 , but they would have to announce it well in advance or when the amount dropped later in the year, it would be seen as a failure.
As I mentioned this morning, I think Marting Horgan will shift any excess ounces to the next quarter, until he is confident and good and ready lto announce increased production.
The painful clearing of the waste should enable more consistant figures, once it is out of the way.
From last year's Q1 report
"Exploration expenditure for the year is expected to be US$25 million, predominantly focused on the Doropo PreFeasibility Study (scheduled for completion in H2 2022);"
From today's Q1 report
"Exploration spend is budgeted at US$30 million, including US$23 million for the pre-development study work on the Doropo Project."
--------------------->>>
So that means they didn't spend 80%+ of last year's exploration budget - and they didn't tell shareholders. Essentially exploration spending has been at a trickle over the last two years. And they say exploration is a priority. BS.
Now go here: https://portals.landfolio.com/CoteDIvoire/en/
and search 'ampella' and see that the concession PR-559 & PR-778 have YET to be renewed
Mr Horgan has to be honest with shareholders NOW. These are the questions:
a) is Doropo too expensive to build, making it unprofitable ?
b) will the outstanding Cote D'Ivoire concessions be renewed in time to match up with the expiring concessions PR-334 06/11/2024 ? My understanding is that once PR-334 elapses it cannot be renewed, only developed (thus we'll lose the gold reserves as happened at Batie West/Koinkera)
Once again the ball is dropped in West Africa. Does anybody have confidence this current band of directors can negotiate the terms of new concessions with the EMRA in Egypt ? Reality check - it's been over two years of negotiating the 'new terms' for the EGX projects.
Maybe the EMRA's plan is to not negotiate in good faith. Or Centamin's.
https://www.centamin.com/media/2534/cey-rns_-1q22-quarterly_final_19042022.pdf
Could be but I think it's more why is always back loaded EVERY year?
On reason might well be ,The final stages of the underground paste fill plant construction ahead of commissioning in Q2.
As reported in tis mornings report.
Interesting point Rebess- am not sure why that is but am sure someone will provide the rationale- it's always the case here.
Not posting much these days I'm afraid. - I'm not always in a position to do so, but I never miss reading all of the contributions. Each contributor presenting with their own style and perspective, making for a fascinating and worth while read. - I'm flattered by the gracious compliments assigned to me by Razor and Mr Bond. - I'm not really worthy of them.
One thing that always stands out for me is the reluctance for the company to start of the year with a bang. It's nearly always weighted towards the second-half of the year and even this, usually reliant on a good final quarter. - The problem with this strategy IMO is that it leaves no wriggle. Much can happen during the course of the year, unseen events, black-swans, roof-collapses, whatever, and then the year is knackered and the SP and our hopes with it. In addition and under such circumstances, a collapsing SP makes us a target for predators - I'm sure you get my drift here. - How much better to kick-off with a bang, to get some contingency in the bank as a fall-back against unforeseen circumstances going-forward. - Imagine if CEY had reported 1st qtr production of between 120,000 - 125,000 ounces. against the current annual targets/forecast, what a start, what a fillip, what a message. - But, there we are, as usual, they are sticking to the same old strategy of back-end delivery.- With no wriggle, we'll just have to keep our fingers crossed. - The only good thing about today's results is that so far they appear not to have inflicted any harm, which makes a change. - Good luck everyone. - AIMO
Jobless figures up 5 K a surprise to many ?
Why surprised whe the January figures were totally wrong, simply by an annualised correction.
So now the FED has a deep quandery, their crediblity seriously questionable.
But good for Gold.
https://twitter.com/centaminplc/status/1648933993587326977?s=61&t=wPRUR5w_YhDaiuhBs7gRKQ
I agree with Razor here - to a certain extent. Results will take a few days for analysts to digest, and they look good, but will they be enough for institutions (who are what move the share price) to start buying when the base rate looks like it's going to 5%? We all know it's half the rate of inflation, but it's effectively risk free so why chance CEY (or any other shares for that matter) at the moment?
Lucky- “ USD not making any meaningful move up right now, can be interpreted even more bearish for POG”
This is simply incorrect- USD not moving up, can only be interpreted as BULLISH for gold, not BEARISH. I follow my own advice, but correct where information posted is simply incorrect.