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he would probably have also implied Rio drilling was imminent... rather than offer up an honest estimation of end of the year or early next.. I'm liking KM
If NM had been asked that same question, I suspect the answer would have been something like "look, it's an ambitious target, but we are ambitious. It's what we all want and we are going to be working our hardest to achieve it. The new PFS will aim to bring production online quicker than we previously hoped." Which would not have been lying as such, just putting the classic CEO spin on it.
Keith Marshall as the straight talking mine building expert was asked the question and his response was effectively "No way!" Because he knows exactly how long these things take based on his years of experience building them.
DBW
Well yes in order to deliver a maiden MRE they must be pretty confident ;o]
Yeah hole 7 imo deffo changed things
If I recall correctly they seemed pretty excited about the holes they were drilling at the time also - so finger toes n eyes crossed for continuation of decent results @ Porv too
Summat's gotta get us moving soon right???
atvb m8y
bn.c
BNC
Yep agreed re first few holes then came hole7 ..... who knows if it’ll keep getting better but if they’re putting together an MRE in a couple of months there must be something
Understand your points as well BNC.
this is of course very true DBW - I'll be honest I didnt really consider the grades at Porvenir to be that god, but if KM is excited by them and of course the holy grail being that they're near/close to surface - then that's a big win!!!
just the social challenges of an open pit mine need to be addressed/overcome.........
and Quady - yes indeed - until the PFS is completed where many things can change hence the need to redo it - it's still not totally clear until this is completed matey - you're 100% right there!!! ;o]
atvb
bn.c
again
that was not the question me ol mucka
the question was not "when will the mine be completed" the question was as I quoted "could we expect to see copper/gold produced as early as 2025" - to which KM replied "NO! It would be closer to 2028"
it doesnt mention block caving specifically - it doesnt mention mine completion - it does speak of first production of copper/gold which could be from any possible open pit for example or if open pit an n/a then from the cave - who knows....
he 2028 IS brough forward a couple of years therefore implying that the true first production expected would not have been 2027 as NM had stated but more like 2030........
atvb matey
bn.c
Agreed and it’s conceivable Porvenir could be even quicker
I know BNC, he was answering the question, which as you stated was when a mine would be completed, and as you said he said, it was no, it will be closer to 2028.
Let's agree to disagree and see what the PFS states to see the official timescales for how Alpala is constructed.
Because as he said, we will not know the timescales and costs before the PFS.
He never answered anything on when production will start.
All the best.
hi matey
well the question was not block cave specific - it was and i quote "could we see copper / gold production as early as 2025" and answering that non block caving question he stated "NO it will be closer to 2028"
I know they also stated quicker and in the same bit he stated that 2028 will be a couple years brought forward.......
Cheers,
bn.c
Are you nervous you won't be around in 2028..............
Z
That's more like it Zoros.
Apology accepted.
That's correct BNC, but he was on about a full block caving production operation. Earlier on he said that we will not know the timeframes and costs before the PFS is delivered.
Also in the previous RNS he said we get an open cut and Production faster and cheaper.
I know we need to wait for the PFS for the new timescales, but we will be producing revenue a lot sooner than 2028.
I apologise profucely Quady. You are, as ever correct. I have emailed Solgtowers and advised KM that he needs to be more certain of his facts and to immediately stop blurting out crass statements on the future production time line for Cascabel.
I exit the room backwards bowing continuously to your grace.
Z
hey Quady
when asked about production in 2025 KM categorically said "NO - it would be closer to 2028"
2hrs:15mins in (in the q&a section)
;o]
bn.c
Hi DBW
I have to disagree, as soon as he finished I listened to it a second time.
He said that a block cave operation would be up and running by 2028.
Earlier he said in the same presentation that they needed the PFS to understand the timeframe and costs, to get us to production, and if you take that with the previous RNS, which said production quicker and cheaper, using an open cut. we are still on for 2025.
As you have to take into account the year delay on PFS.
I think this is all good news. But broadly know we agree on this point.
I think the problem is some people on here only listen to the points that support their world view, and don't listen to anything that doesn't.
To be fair I think Keith was a bit vague on this .
Anyone ( with more knowledge on the general sector) have any feelings as to who may be in the running for next CEO ..... I imagine it may be quite a sought after position given the potential.
Exactly DBW that is what was said by KM, only some on here choose to pretend that production is 2028.
Had confirmation that the 2018 production timeline mentioned bi KM was only with regards to the block cave and there is definitely a chance of earlier income from shallower deposits if feasible
“ Yes Keith was referring to first production from the block cave closer to 2028. Open pittable potential is under investigation with near-surface drilling underway which could potentially result in earlier production if the option is viable”