RE: Trouble with the sp11 Sep 2021 10:39
Hi Hydrogen
I believe your copper figures are conservative with the low average grades you’ve used
Economic grades were 0.2% but with the price shooting up this has the effect of the copper lower grades becoming economic.
The way the gold cut offs are used on the results has the effect of losing the copper grades where the gold criteria doesn’t match the cut offs.
This is more dramatic in the high grade cut offs than the lower grades as this is where the high concentration of copper is located >0.6%.
There has been a lot of high value copper intercepts I’ve noticed disrupted by the gold cut offs.
I’m still working my calcs on 0.2% grade
On 930,000 ,000 tons that’s about 1.86m ton copper.
Copper has a recovery factor of about 84%
So that’s about 1.562m t
Yesterday price $9355
= $14.6bn less 10% +$13.14bn
30% = $3,900,000,000 to Ggp