Member Info for Cornishknocker

Indeed it is, with deposit like Kiruna in Sweden, its going to be many centuries before we need to think about mining the iron deposits found in the UK.

Radon us certainly an interesting one, it's a major issue in the Cornish mines, with monitoring of dose levels required by the National Radiological Protection Board - it was quite disconcerting when you used to see the massive radiation warning signs at tghe top of the shaft.

It's normally associated with granite formations, so I wouldn't have thought it's an issue for Rambler.

There has been a lot of iron mimed on the last, there are no currently economic deposits

The blue copper is like a gunge, behind it its generally metamorphosed slates and mudstone which are hideous, it tends to be very sharp and splinter.

Under the metamorphic rocks it is all granite, which is hard and abrasive, but much nicer to drill and blast than the metamorphic rocks.

I was drilling holes through my house at the weekend for gas pipes, it's 200 years old and is basically built from the material that came off the waste tips then, some of the rock coming out was heavily mineralised and would certainly be payable if it was being mined now!

I've been in a fair few, it looks stunning

No its nothing to do with flooding. The ore and surrounding rock mass is not a monolithic piece of rock, there are lots of joints and faults in it so if one piece drops out it can cause a chain reaction with lumps of rock falling out of the hanging wall (roof). In drives and other permanent openings that are accessed by people there is rock support installed (rock bolts, steel sets, timber packing and shotcrete) to prevent ground falling. It's not possible to do this in an open stope, so it's always a risk.

Hi Brighters, it looks like some of tge senior staff from siltbuster left the company after Selwood took them over and set up material recovery solutions.

Thanks for the link, they are both high density sludge systems, the difference seems to be that the silt buster unit has large individual components - reaction tanks, lamellar clarifiers and mixers, where this system is an all in one unit.

It's a good idea having it all in one however it would need significant upscaling to deal with the water quantities, to deal with the quantity of water being pumped they will need nearly 300 of those units - . The siltbuster had 3 streams.

An element of the water treatment plant will be a permanent installation as the water will need treating permanently- the volume will reduce after 2-3 years by approximately 2/3rds, but tgat will still leave about 800m3 a day to be treated.

The last one was modular off site construction, the concrete bund is for containment in case of a spill, there's a lot of caustic chemicals going into the process to raise the pH - the last one was a siltbuster design.

They had a trial plant in 3 years ago to design the full plant. They have the submersible pumps, pipework, vsds and power supply already. The area for the water treatment plant was levelled again 3 years ago and all historic mine workings under it remediated.

The water treatment plant requires a large concrete bunded slab for all tge equipment to sit on.

Where did you get that information from, I haven't seen any sign of its construction yet?

Here's my take on todays update: -

There are a few threads yo it, none of it bad: -

1. Confirmation of the block model of the 710-760 Lower footwall zone, meaning tgat stoping should produce the tonnage and grade planned.

2. Additional zones which are potentially mineable in close proximity, meaning more tonnes from capital development completed to date, reducing the AISC.

3. Development drives being partially payable, which has effectively reduced the cost of those drives by $0.5 million to date.

Finally the plans included give a good indication of where we are. The 760m drive is 100m from its planned end point. The 735m is 150 m from its end point and the 710m level is 200m from its end point.

You can expect 4m advance on each level every day, so by the end of the month the 760 level will be complete as planned - although it looks like there maybe another vein in the footwall,so this may get driven on further

There's a lot of concern on this board about whether the company can make the hedge commitment.

Let's look at the numbers, in H1 the mine churned out 109,000 tonnes of ore and has about 2500t of the hedge commitment left.

If we take an ore grade for the rest of the year of 1.7% Cu and a mill recovery of 95%: -

2500/0.95 = 2632t of contained copper to be mined.

(2632/1.7) x 100 = 155,000 tonnes of ore to be mined.

That is a 50% increase on the heavily constrained H1 production, and only 58% of the planned year end production rate of 1500tpd.

They stated earlier this year that they are Targeting stoping blocks of 2% and that ran through the latest mine plan, with tge grade tailing off in qtr 4.

The aim going forward with the ore sorting is going to be to ship 1350tpd of sorted ore grading approx 2.25% to nugget pond mill.

RMM will not have to buy copper to meet the hedge agreement, IF and its a huge IF they didn't produce enough this year, then as last year it will roll into next year.

Look at figure 2 on todays RNS, there is a collosal stoping block there, being developed simultaneously on 3 levels, on the 760 they are literally 100m away from the end of the drive - 25 days and a lot of that material is payable ore.

You cant really compare grades like that Mick. Most copper production comes from low grade bulk tonnage operations, where costs per tonne are low. This is a high grade underground mine, a better comparison is with other VMS copper deposits

I'm here, it takes a while to read through that. For me if we were an explorer hitting those grades, every man and his dog would be shouting about it. We aren't an explorer years away from mining it - on the 760 level we are 100m away from starting to set a stope block up and actually mining the material at the moment, in the development headings , material that is worth $160 per tonne.

It's purely speculation on my part, time will tell. Its just my gut feeling is a deal is done, subject to a change in the deferred payments, which require shareholder approval to admit the extra shares. The investor update is scheduled for 930am local time, so we will see at 530 tomorrow

If it was purely aim listed I would totally agree with you.

It's an interesting thing with the dual listing, that its generally impossible to make an announcement to both exchanges at the same time due to the time difference .

If they were to make an announcement to the TSX following the AGM, would they have to apply to AIM for a suspension until Monday?

I know nothing, but I have a feeling.

In February at the time of the AIM listing they said if tge tin price went to $25,000 they would look back towards crofty.

It's now over $35,000.

We've had an updated resource statement.
We've had the renegotiation of the deferred payments to Galena.
We've had securing the land access and mineral rights to the Roskears.

Tomorrow's AGM will presumably pass a resolution to enable share issues, which will enable tge deferred payments to be amended.

After that there is an investor update at 930 local time in vancouver, which would enable a funding announcement - but I could be completely wrong.....