Firering Strategic Minerals: From explorer to producer. Watch the video here.
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According to page 23 of the last site visit presentation, here:
https://www.centamin.com/media/2873/cey_sukari-site-visit_presentation_011122_final.pdf
Centamin's LOM strip ratio (historical + future) is 8:1
Additionally the graph on page 23 for 2022 and onward doesn't show lower ratio's for the open pit (which is where the vast volume comes from) so I would think 6:1 is impossible
Indeed it looks more like a strip ratio of 8:1 to 10:1 is in Sukari's future judging by the chart
Furthermore the graph on page 23 shows the average grade for 2023 will be significantly LOWER than 2022 both in the underground and open pit - so then how is the expectation of higher production in 2023? Will this expectation see a revision?
Maybe the Bonanza zone will change production & grade forecasts to the upside? But haven't seen it appear in presentations lately...
Cowichan Interesting comment regarding strip ratio suggest you remove the waste removal impact in 22,23 and 24 and the strip ratio definitely reduces. So if average is 8:1 then as I say remove the first 3 years and logic says strip ratio will (should or GOT TO if Horgan wants to stay in a job) reduce.
Excellent news also is the higher grades years 25 through 29 in the open pit (hopefully justifying the waste contract).
Grades lower than 22 for 23 and 24 but increased ore both above and below ground hence forecast of marginal improvement in ounces.
Thank you Cowichan for broaching the thorny and issue of "Strip ratio's" and indeed to Dasut for the knowledgable based on experience but logical explanation.
I appreciate that I am going over old ground, but I was led to believe that Sukari never was the first choice location for developing a mine, there was another much richer unexploited reserve further afield , however unfortunately the down side was that it was much further away from easy access to water, so it was decided to go for the easist option Sukari.
The down side with Sukari now seems pretty obvious now although it was concealed from the market and share holders holders, Sukari has always been plagued by the the poorer grades in the open pit, Cleopatra slope,etc has been disappointing to say the least and a then the ongoing since 2015 reluctance by Pardey to openly acknowledge the low grade qualities problems and to combat them or compensate for them with a proper development of the underground resources where much higher grades were located, this was highlighted when the sole LHDR self destructed in 2018!
The "Bonanza Underground Grades" which are hopefully are as good as claimed are now ever more absolutely essential to contribute to the recovery we are still all awaiting!
Tibbs,
I have read somewhere on this forum mention of another area being preferred over Sukari but this isn't something that was ever mentioned to me in discussion with the early pioneers of Pharoah Gold and we were talking to them from the late nineties early noughties.
Hopefully if there is truth in the rumour Sami will have had some input into the go for new concession areas albeit if there is no access to significant water resources no idea how it will work.
Sami did not prefer it ,
He had a choice of Sukari or the other .
From EMRA but not both.
He chose Sukari .
He and assisantnt geoligist ,who later left is still ,CEO of that company who aquired it,in fact it receiently changed ownership.
That assisant , still holds Sami as an expert in that area .
Sami now is old but with much knowlege.
From memory, .
The assistant was Mark Campbel, if anyone is interested.
Hi Dasut,
Thank you for that input, I thought you may have sone idea considering your professional insolvent from the early Sukari days, I really have no idea as to the accuracy of the claims, or the location of these rich reserves from two separate sources, both parties have been involved with Centamin for well over a decade ,one at corporate level and the other in the services related drilling industry
However that said I agree with your opinion that Sami and Centamin must know the location of these reserves, although how they would overcome cope with the associated distances and lack of easy water access remains very relevant I would assume?
Thank you Mr Bond, I also seem to recall you referring to this subject in the past, so then if you are sure that Sami refused the other richer reserve option then you likely have a good idea of why and also the location of these reserves, if not then how can you be so certain?
Mr Tibbles ,
The other mine is Aton Resources bassed in Abu Marawat.
The concession was awarded in 2007.
But never had sufficient backing for much more other than hope.
It was taken over ,if my memory is correct by maybe END,if not Bristow.
Tibbs with respect there is no easy water, Sukari had to build a desalination plant and a pipeline to the coast which is a significant distance and expense.
Aton Resources as far as I am aware are still going and are still working at Abu Marawat and a few other areas.
Thank you Mr Bond, although I cant say this is what they were talking about,
Aton’s 100% owned Abu Marawat Concession is located in the Central Eastern Desert of Egypt, approximately 200km north of Centamin’s Sukari gold mine. Aton has identified numerous gold occurrences throughout the entirety of the concession area, including the Hamama deposit in the west and the Abu Marawat polymetallic deposit in the north east.
https://atonresources.com/projects/abu-marawat-concession/overview/
https://atonresources.com/investors/overview/
https://atonresources.com/news/2022/aton-provides-corporate-update-on-its-abu-marawat-concession-agreement/
https://atonresources.com/about/aton/
https://atonresources.com/about/management/management-team/
The Rodruin project was discovered by the Aton team,
https://www.mining.com/aton-outlines-plan-to-build-egypts-second-gold-mine/
Hi Dasut, yes good points, although I suppose at la east a reliable water supply (albeit salty) was more easily available than at the other location.
To clear it a little look at Altus Stategies, part of Suwaris empire., Campbell is now President.
Published 02/08/21.
Not that easy to follow the twisted trail, but that is Suwaris.