Member Info for Cornishknocker

Its not looking like they gave much left in the tank to me

Mine developments of less than 10 years from greenfield discoveries are exceptionally rare, 15 - 20 years I would say is the norm.
Phase 1 - exploration and maiden mineral resource - 3 - 5 years
Phase 2 - DFS - 2- 5 years
Phase 3 - financing and permitting 3 - 7 years
Phase 4 - Construction and commissioning - 3 - 5 years

For an operator like Tony Bradbury, a successful turnaround is more important than the immediate share option, hence the equity issue a couple of months ago. He knows securing tge future will guarantee his options plus make his next move more lucrative.

The historic plan for little deer is to run it as a satellite of ming,so the priority gas to be to get ming sorted. Interestingly, with the purchase of the duck pond mill, once relocated it opens up the opportunity run little deer as a separate entity utilising the nugget pond mill.

I suggest that everybody read this article from a couple of years ago: - https://www.northernminer.com/news/rambler-track-meet-1250-tonne-per-day-target-mid-year/1003783762/

Mineral processing is far from buying a machine off the shelf as you can get. There are 2 main technologies fore ore sorting: -

1.DMS/HMS - This essentially creates a tank of high density liquid where the heavy ore sinks to the bottom and the light waste floats off the top, it requires a wash plant, magnetic separators (to recover the heavy media), pumps, conveyors, screens, hydrosizers and so on.
2. X ray transmission, this is much simpler, you still need screens and potentially a wash plant depending how friable the ore is, with secondary crushing and control building.

It looks like a CT14 they have on site, which is good for depths well in excess of 1250m.

As you say Cornish veins are well known for being 'bunchy" with rapid transitions from high grade to barren and back again.

With reference to GWDD-01, its quite possible that it missed the vein altogether and went down the hanging wall, its also possible there is no continuous structure. Its going to be interesting to see the rests for sure.

Mrexec, I would agree with that in pure terms, but its likely to start seeing future profits factored into the share price by that point as ore sorting comes on line, so I would anticipate 1p-1.25p at year end.

Bear in mind this is a year where a $10 million liss was planned.

At todays prices, with this years production guidance figures, the mine is looking at an operating profit in the region of $15 million.

Absolutely Mr Exec, if they wanted to do it quicker though, it would require financing, thatt will be difficult by any other means than equity until they can prove that ming is profitable - and it would be madness in my mind to consider equity raising to fund a second operation at todays share price.

Its a 3 stage plan.

1. Currently we are at 1350tpd, aiming for 2%cu (9350 Tonnes)
2. At tge end of this year, ore sorting will be coming on line, increasing mine production to 1850tpd - it is likely that the target head grade will be reduced at that point, so say its 1.75%, that gives 11,250 tonnes Cu
3. Finally when Duck pond mill is commissioned at Ming (probably late 2023, early 2024) capacity will raise to 2300tpd, which again will likely result in another lowering if target head grade to around 1.5%Cu, giving an annual copper production of 12,000tpa Cu for a revenue of $110 Million at todays prices (ignoring gold credits and smelter charges), but at significantly lower unit cost than today.

So why reduce the head grade? The higher your head grade, tge less tonnage of available ore you have and your stopes become smaller as you have to leave more ground behind - ore bodies are not homogenous there is large variations over small distances. Also if you mine all of your best ore when times are good, its very difficult to survive if there is a dip in prices.

One thing to note here, this could change if the high grade drill intercepts prove to be sizable.

People have certainly talked about little deer and whalesback here.

If it was me running tge operation, what I would be aiming to do is start the work of relocating duck pond mill to ming as so soon as possible (probably september/october), and then in the spring of 2023 start work on reopening little deer with a view to using nugget pond mill for processing - possibly relocating the mill to little deer.

There will be a lot more than tge 3 monthly updates, with exploration, major developments etc.

We know key positions in the mine have/are being filled, the new development director has a lot to get his teeth into, but as his workflow progresses there will be lots to report.

The production manager and chief engineer will be ultimately responsible for getting production to full capacity and maintaining it.

Sometimes people are expecting rns' for what would be considered day to day running - for instance people keep saying they want an RNS saying the water is out - they've already had it, in an RNS in mid February tge company stated tgat development had resumed on the lowest levels of the mine. I.e. the water had to be out.

I took a drive out to united downs tonight, the drilling rig and other kit is on site and they are just preparing tge drill pads - I.e. they will be good to start drilling on the 6th.

Ha ha, no definitely not!

All of my knowledge on specifics of rambler comes from within the various technical reports, presentations and RNS's. There is sometimes general mining knowledge applied to fill in tge blanks

Reopening the wheal maid decline is a way off yet, they are not going to do that unless the drilling shows promise. There is going to be a lot of rehab to be done in there, tge ground in that area is decidedly grotty, with rusk of methane from the nearby tip and water treatment being required.

Evan, the update on the 16th February confirmed tgat the mine was pumped out.

This year is a transformation year for Rambler. In the past two months, we have made good progress with our turn-around plan. We have resumed development in the lowest levels of the mine with a mining fleet that continues to improve in availability.

To resume development on the lowest levels of the mine, the water had to have been removed.

I truly believe this share has the potential to generate life changing returns.