Member Info for Cornishknocker

Don't worry, I took it as a joke!

My background is mining, but now work in major electricity Transmission and Distribution projects.

Sorry!

At the moment the rising price is hurting Chinese industry, so China as a policy aim to stabilise the price. They have a war chest to achieve this in their strategic stockpile, but if demand carries on increasing based on electrification, decarbonisation and capital spending in first world countries they will very quickly run out of ammunition. The scale of copper required on present Western Government plans is frankly enormous.

What is high grade copper price? As far as I'm aware there is only one grade that is priced and that is LME/SHFE spec copper cathode? as per this: -

Grade A copper must conform to the chemical composition of one of the following standards:
BS EN 1978:1998 - Cu-CATH-1
GB/T 467-2010 - Cu-CATH-1
ASTM B115-10 - cathode Grade 1

To me it looks like the price is going to stabilise where it is for a while, as any upward pressure is being met with China releasing reserves. The flipside is that any downward pressure is likely to be met by China replenishing reserves.

Hi Jimster, at present Little Deer is quite a bit smaller than Ming Mine, but is not a bad size. In terms of mining, LD/WB is easier and cheaper than Ming as the ore body is steep dipping, which would allow standard longitudinal retreat sub level open stoping to be employed, which requires less in waste development than the modified transverse stoping that has to be employed at Ming.

I don't think that information has ever been published, for me there needs to be a minimum of 4 stopes in operation at any one time, plus at least one in development.

One of the issues the mine has had is tgat while it has managed to hit 1350tpd, its never managed to maintain it, which is a symptom of not having enoughed developed ore, with production constantly catching up with development.

So to get to 6 or 7 stopes developed will secure that and enable ramp up as plant capacity allows.

Hi 2phevs, Westgate have no more warrants outstanding at any price, in the rns: -

"Following this exercise, West Face does not hold any further warrants in the Company."

I went through the numbers this morning, it appears there are 1,871,658 warrants outstanding to other parties.

Exactly, producing at 800tpd even will be seeing over $100,000 of revenue everyday and tgat to me us the big thing, with the financing plus the revenue there really should be no need to use the additional loan notes, but it is there if something happens.

Nothing to do with Wheal Jane will be cheap, tge mine is incredibly wet and the water incredibly acidic

Indeed, he may find out how deep Dolcoath is.....

Interestingly I was chatting to a guy I have working on one of my sites this morning. In the mid 80s he was a miner at Wheal Jane, driving the wheal maid decline, apparently they had a lovely specimen of native silver out of there.

In January 2020, nobody was expecting a global pandemic that was going to put the copper price through the floor, using every penny that the company had to keep the mine open.

Absolutely, there's another 6 holes drilled to date with mineralisation in all of them. That photo of the core with the native copper was hole 7.

That said the overall values are fantastic still, interesting of an ore value per tonne, it gives: -

For the first intercept: -

7.9% x 33,000 = $2,607/ tonne, which is huge. The problem is its very narrow (its also incredibly shallow), with a true width likely to be around 0.75m, so you would have to accept a reasonable amount of dilution, but even if you took out 1.5m, it would still be very payable.

On the second intercept: -

Cu - 5.2% x $9300 = $483.60/ tonne
Sn - 1.3% x $33,000 = $429.00/tonne
Ag - 2.54oz/t x $26 = $66.04/tonne

For a total value of $978.64/tonne.

Both those numbers are large (please note this is purely a quick indication of the payability and allows a quick comparison with mines of different types)

As an example you could compare it with a gold mine, just for arguments sake take Dalradian (I'm using this as its narrow vein, high grade and would require similar mining techniques.

They are reporting a resource at 15g/t (0.48 troy oz), so

0.48 x 1750 = $840/tonne

So it's definitely encouraging results today.

It always makes me laugh when people get excited about gold and silver in these intercepts, it's basically 2 oz in a tonne worth just over $50

As you say Southwesterner, I think it more in line with what was expected.

The collar position are very close (Approxmately 50m NNE), but this intercept is quite oblique (about 45 degrees to the strike), but it looks like the intercept is significantly East of the CL hole (Approx 100m).

The current drill site is 350m East of the first drill site.

As you say, with the lode width looking to be more in the region of the normal 1.8 - 2.4m range, the tonnage is going to be less than the apparent monster width of last year, which is why I think they have submitted the latest application (Which has been approved), in order to increase the inventory.

The PEA clearly states that the pumps will be suspended from a platform under the conveyances in the shaft.

This is 100% NOT what is happening, having seen the COO demonstrate the process very clearly, there are no flexible pipes, there is no conveyance as the pumps are suspended from the rigid pumping mains, which are held in position at surface. As a result that takes the two compartments of the northern Headframe out of commission, leaving the Southern Headframe.

The Southern Winder is scrap end of, so the first thing to be acquired would be a new winder, which would blow the £15 Million ($25 Million) out of the water - if you were planning to hoist major plant down it, it would need to be a significant winder. A potential option would be to relocate and refurbish North Winder, the extent of which is likely to be significant after 7 years left open to the elements before a temporary housing was constructed on it.

I apologise for mistyping PFS, although I expect we will be seeing one in the not too distant future.

I assume you are aware of the ground conditions in the existing decline, ignoring the newer area which passed through the great crosscourse. The decline needed substantial support for its first 200m or so, with close boarded steel sets, from that point it was driven with NO systemic support required, obviously you cant say this wouldn't change, particularly on entering the granite contact, where kaolinisation could pose a challenge, which in the sub declines was tackled with bolting and meshing.

That's a lively bit of native copper in there (United downs has a lot of it) again that a very good drill intercept, it's showing some continuity, we just need to see what the true width is

A large bulk carrier is just arriving in Springdale, so it looks like we have a shipment going out.