Member Info for Cornishknocker

Wake up Troajan, I know its late! H1 came out on the 22nd July, therefore I would expect H2 any day from the 22nd January!

Copper prices are bobbing around $8000 per tonne at present with stocks continuing to fall (lme stocks now at 97,000 tonnes). Tin is starting to accelerate towards $22,000 per tonne with lme stocks critically low at around 1500t.

Well SML really have a golden opportunity to showcase redmoor in the summer, the G7 summit in Cornwall is no doubt going to focus on energy metals (which i would imagine is the main reason cornwall was chosen as the venue).

If you can get access to the Hannam partners briefing note on Cornish Metals, its worth a read - obviously a lot of the information is specific to South Crofty and United Downs, there is a lot of information on Copper and Tin markets and the UK mining industry as a whole. The SP Angel note is also available but nowhere near as detailed.

Its really hard to see any correlation there, you'd really need to be looking at sectional mine plans to gauge it. If you look at drill results it looks random - there are high grade copper intercepts which are also high grade gold, there are others tgat are low grade gold.

I doubt it is random (deposits are generally structurally and thermally controlled.

The rule of thumb on this one seems to be however many tonnes of copper they produce, they produce approximately the same number of ozs of Gold. So if they produce 10,000 tonnes of copper they produce 10,000ozs of gold

Guess what - hydrogen needs even more power approx 3kw of electricity per kw of hydrogen power.

I've got to say, I far prefer Andrew's interviews, he comes across as having a good understanding of the projects/companies hes interviewing about. There was a little bit for everyone there, dividends, increased production, lots of exploration, expansion into the former Yugoslavia....

Responding to questions on these kind of things is rarely a case of putting a few words on paper. Its normally detailed information required, which requires input from surveys consultants, public consultation, multiple agencies. Someone here asked yesterday why it takes longer than 12 months for regulatory approvals - a shed load of work is required for them.

How do you do that? Actually its not that difficult, ore grades in any mine vary widely, so the management set their production staff a target head grade, then the planning and production engineering staff set a plan in place to achieve that target, by aiming for specific points of the ore body, picked out by grade control drilling and sampling.

To put in context, the approval process for crofty took 12 years, hemerdon 4 years and woodsmith about 5 years. I say 12 months for Redmoor as the environment is very positive towards mining at present, whereas crofty had to fight tooth and nail as the RDA were vehemently opposed and it ended up twice in the high court

Hi Prop, sorry, that wasn't a dig at Redmoor it is a superb project, but we need to be very clear where we are in the scheme of things, to say we are two years ahead of them is completely incorrect. If I had a £100 million, I could go to Crofty and start work straight away, but at Redmoor it would take 12 months minimum to get the land and approvals.

Sorry bitcoinbuyer but we most definitely are not 2 years in front of Cornish Metals. What have we got that they don't? Nothing. What do they have that we have?

1. The land
2. All permits required (underground and surface PP, Water discharge consent)
3. Utility supplies
4. The mine with major infrastructure
5. Key capital equipment required to dewater the mine on site.

United downs is a second project, which in 12 months time will have a NI 41-301 reserve (Canadian JORC equivalent) and then there is the third project (Wheal Alfred) in terms of distance, by road in a lorry, you are looking at a minimum 75 minutes each way to Redmoor, which would be crippling to project economics.

Interesting that cornish metals are managing to list on aim with a £5 million private placement

Thats only part of it Worzel , I ran a project to connect 2 turbines to the grid 6 years ago , that used another 38 tonnes followed by another connection a few months later with another 50 tonnes

Thats only part of it Worzel , I ran a project to connect 2 turbines to the grid 6 years ago , that used another 38 tonnes followed by another connection a few months later with another 50 tonnes

Why list when they seem able to get people to throw money at them through crowdfunding with next to no regulatory oversight?

Its not so much what its end use is - the biggest limiting factor to selling it for steel making is distance from mills, but the higher the price of iron ore is the higher we can sell the magnetite. Of course if the price goes to a certain point, it is entirely possible that a steel mill would swallow the lot up in one hit

Magnetite is one of the main ores of iron.

Lme copper stocks have reduced 33% in the last month to 100,000 tonnes

I agree with some of your assessment, but not all. Trucking capacity doesn't appear to be an issue, with hauled material hitting 1850tpd, however 600tpd of that is waste - as stoping moves more from room and pillar to open stoping, I would be looking to divert that waste to stopped out areas, which will reduce waste trucking time and costs - its considerably cheaper to truck on the level than on tge main ramp. The high volume of waste being trucked points towards the most serious structural problem in the mine - lack of developed ore, which is why a contractor has been brought in to push development further in advance of mining.
Secondly there is no hoisting at present, however there is a shaft available, which will require fitting out and an underground crusher installing. As the mine moves deeper, this must be brought into operation. A big benefit of this on top of a large reduction in haul costs, is it will massively reduce the ventilation demand.
Thirdly, tge mine is actually a pretty dry mine, with more water being pumped out that has been introduced as part of the mining process (drilling and wash down) than what enters tge mine naturally.
The 20% SGA cost us largely a fixed cost, so as tonnage improve as a %age that will reduce. Bringing a mill on site will remove the 10% transport to mill cost. The processing plant seems pretty efficient, but capacity is a limiting factor.