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The state of Victoria again in Lockdown, only 7 days this time (!, totalling 161 days so far), but then thats a minimum. And now we have the federal govt arguing withthe states about responsibiltiies for the state govts lock ups and lock downs, and the economic impact. Pass the buck and kick the can down the road brigade in full motion here!
The effect on businesses are appalling...
"The clash came as the Victorian government rolled out a $250.7 million support package to help small and medium-sized businesses through the snap closure amid estimates that the lockdown will cost the state between $700 million and $1 billion.
“Victorian workers need support and that is where we needed Canberra (read ALL AUSTRALIAN TAX PAYERS SHOULD PAY FOR THE INCOMPETENCY OF THE STATE GOVERNMENT?) to come to the table and I am very sorry to say that they have refused to do that,” Mr Merlino said...
Then the smoking gun was tabled in a more articulate form in the public press...gain in function experimentation, one of the lesser known reserach into the productivity and effeciency of viruses and transmission. For those interested
https://www.theaustralian.com.au/world/anthony-fauci-backed-virus-experiments-despite-pandemic-risk/news-story
https://www.thelancet.com/journals/laninf/article/PIIS1473-3099(18)30006-9/fulltext
I can well imagine the conflict between the US and China growing, not abating, and the effects on the global (not to mention Australian) economy, liquidity, trade flows, procurement chains being negative.
Look forward to a productive week on the markets. Demonstrated and Sustainable yields >5% are very rare.
best
the gnome
For me the Doropo news is fantastic. Another 200,000 ounces to add annually without the huge royalty payments. This project alone could nearly double CEY profits...also if they don't decide to proceed with it then they could sell it for a nice tidy sum. Either way CEY earns $$.
highlights
· The Doropo Project shows strong development potential with the completion of a positive preliminary economic assessment ("PEA"):
· US$234 million post-tax net present value ("NPV5%") with a 21% internal rate of return ("IRR") at US$1,450/oz gold price
· US$487 million NPV5% with a 33% IRR at consensus gold price per ounce of US$1,829/oz ("consensus")
· Total development capital expenditure ("CAPEX") of US$275 million, including a 15% contingency
· 13 year life of mine ("LOM") based on the updated mineral resource estimate of 0.16 million ounces (Measured and Indicated) and 5.21 million ounces (Inferred) of gold, with potential to further increase gold resources across the permits
· Average annual gold production of 207,800 ounces for the first five years, averaging 150,956 ounces over the LOM, for a total of 2.0 million ounces produced at an average AISC of US$904/oz
Dusterman,
The other look in here, is that Martin is a conservative man (unlike his pre-decessors), and I think his figures are conservative
best
the gnome
Exactly gnome. To be honest I like Martin approach. Very professional indeed. He seems a decent bloke who can be trusted.
Like I keep saying the gold price will do the talking, and think it's only just getting going. However with projects like Doropo & potentially new assets in Egypt ( hopefully bang next to Sukari ) things for CEY could certainly get interesting. It's most definitely looking positive...just waiting for that Egyptian licence news next. Fingers crossed its good, can't see why not due to the fact they already have a successful working relationship. Obviously CEY needs better terms & that's why it's taking longer to iron a deal out. Time will tell
Yes.
One of the things that happens in gold processing (like many other industries) is that with time, there are new breakthroughs, which are better and cheaper. Its happened for the last 100 plus years. Some call these disruptive technologies.
There is a tremdous amount of active metallurgical research being done on refractive gold ores, like those at Batie. Martin no doubt will be aware, and will have disensed appropraite samples of the Batie Ore far and wide, to the more capable researchers. Waiting for the results and for technology to provide a solution to the 4 m ozs probems is not a bad strategy.
See below for one insight
"TREATMENT OF REFRACTORY GOLD ORES – CASE STUDIES COMPARING
CYANIDE AND THIOSULFATE LEACHING TO RECOVER GOLD
By
Paul Breuer, Robbie McDonald and Hongguang Zhang
CSIRO Minerals Down Under Flagship, Australia
The majority of the world’s gold reserves are hosted in copper-gold ore deposits and/or are
contained in refractory ores. Hydrometallurgical processing options for these materials are
becoming increasingly attractive over pyrometallurgical processing due to their lower environmental
impact and flexibility.
Ultrafine grinding and pressure oxidation (POX are two common methods often employed in the
treatment of refractory gold ores prior to leaching. However, these pre-treatment processes do not
always result in high gold recoveries upon cyanidation (and can be uneconomical due to high
energy and/or reagent consumption. Presented in this paper are case studies for several goldbearing refractory sulfide concentrates and ores, where these pre-treatment methods have been
evaluated together with both cyanidation and thiosulfate leaching for gold recovery. The POX
conditions with and without the addition of sodium chloride are shown to have a significant impact
on gold recovery from the POX residues in most cases. Gold recoveries for most samples and pretreatment options when leached with ammonium thiosulfate and copper catalyst are generally
equivalent to, or better than, those achieved with cyanide leaching.
BECAUSE MARTIN CANNOT REACT AT THE WHIMS OF THE LIBERUMS OF THIS WORLD, DOES NOT MEAN ALL IS LOST
IT REQUIRES MORE STRATEGY AND THOUGHT PROCESS THAN THE "CUtE IN SUITS, KUTCHING!, FEE CHARGING, RENT SEEKING BRIGADE" maybe capable.
Just a thought
best
the gnome