Member Info for Cornishknocker

The production guidance put a huge amount of meat on the bones, we know we will be at 1350tpd by tge endvof the year.

In a few weeks tge next quarterlight update us due which will no doubt explain the progress made. I would like to see what equipment has been ordered and when it is due for starters, particularly with regards to the ore sorting. Hopefully we will now be scaling back contractors as more mining staff come on the books.

As I said there are lots of ifs buts and maybes. Its far to far in the future to have any certainty about anything.

There's a lot of ifs buts and maybes before you get there, but yes in the right conditions it is possible to get to 12p. But thats in at least 4 years time.

With both operations fully functioning we would be looking at around 2000t of concentrate produced per week, which would mean a shipment at least every month for an income of about $20 million per month - $240 million per year with costs of around $80 million, giving $160 million per year profit, which would potentially give us a share price of 12p. At which point DJ will be buying himself a carribean island!

On the distances, my gut feeling (in lieu of any permitting requirements) would be to relocate nugget pond mill to Little Deer following the relocation of duck pond mill to ming mine and operate both little deer and ming as self contained operations.

Just got myself acquainted with the geography: -

Nugget pond is 40km SE of Ming Mine.
To get the concentrate from nugget pond to goodyear cove - located 60km SW of nugget pond, means 140km road trip as you have to back on yourself to ming mine at Baie Vert.
Little deer is located 70km South of ming and 30km North of goodyears cove - 110km by road from nugget pond.

Yep that would be around halfway

I believe uts halfway along the road from the mine to the port

https://www.marinetraffic.com/en/ais/home/centerx:-56.087/centery:49.457/zoom:12
Goooyears cove us the cove just west if South Brook, if you zoom in on the satellite image you can see the concentrate storage shed.

What was said in todays announcement was tgat the turnaround of ming will be used to develop whalesback.

The mine produces about 500t of concentrate every week, a shipment is about 6000 tonnes, so it 12 weeks for a load to be generated. The last shipment was at the beginning of February.

Looks like things are going well: -

1. The mine rehab and development is reaching its conclusion (from the jobs being advertised)
2. Lombard appear to have sold to their target holding.
3. The company has plenty of cash in the bank.
4. Another shipment of concentrate is due in the next 4- 6 Weeks.

Things could get very interesting

People need to be realistic here, the company laid of everybody not required to meet their contractual obligations in the last 12 months and are now recruiting again to get the mine at capacity. They don't need pr at present as they have all the money needed to get back to capacity and turn around the mine, so pr is really not a priority. As results start flowing the pr will start flowing.

Just to address the point made about tge reason tge mine loses money us because it trucks its ore 50km. Each truckload costs $400 to transport, each truck contains 30 tonnes of ore, so when the grade was 1.2% with a copper price $6000, the truck contained ore valued at $2160 plus gold and silver credits (haulage was about 18% of the value which was way too high). With grade increasing to 2% and copper to $9000, now each lorry is valued at $5400, reducing haulage costs to about 8%.

The first hole appears to be a 45 degree hole, being drilled from tge same site as the large intercept last year, so they should hit the first intercept either today or tomorrow, with completion of the hole the week after next. There will be a lot of core logging to be done, assuming there is core to be assayed, I would expect them to send tge off in about 4 weeks and allow 4 weeks for results, so first results possibly in June.

It slows down the deeper you go as it takes longer to extract the barrel and survey tge hole, but I'd have thought they were aiming for around 200m/rig/week

The key is not to compare copper mines with gold mines, its a fools errand. Its a nice bonus, little else.

Last year the mine had to dramatically reduce costs to survive and halved production, that would have meant significant job losses, on top of that as the ramp up moves from development to production, there is a shift from contractors to employees.

Its a little more technical than that, future years production would be discounted for starters, but also profits should increase as mining costs come down. A better ball park would be to use a p/e ratio of 8.

The mine has a minimum of 20 years of ore, so I wouldn't worry about it too much