Member Info for Cornishknocker

Hell, i'll keep posting! Anyway for anyone interested, when the term jumbo is used, this is what they are talking about: - https://youtu.be/R5wud8INVpk

A jumbo is a drilling platform, typically 4 wheeled with 2 booms, which makes drilling the holes for the explosives quicker than using old style jack legs - it also gets away from the hand arm vibration issues. Alternatives to drill and blast are methods like roadheaders and continuous miners, which aren't normally used in a hard rock mine as drilling and blasting is generally quicker. So yes they will be using a jumbo, but that is drilling and blasting.

They would probably look to develop a new zone off of the main decline ramp (which i think is what you mean by adit - an adit is a drainage tunnel, so tge portal us the lowest point). Looking at the mine plan, that would require a drive if about 250m ( about 8 weeks work), and then it would be into stope preparation.

Another thing, don't ever expect to see those grades in the head grade - if you put tgat kind of material straight into the mill, your recovery would drop as the mill isn't designed to work at those grades. What they will do is use the high grade ore to blend the lower grade ore to 2%.

You can't really make a comparison between the actual share price, since then there have been an awful lot of new shares issued, so that kind of share price would put a massive value on the company. To me the target is a £300 million market cap, without a material change in the company (addition mines etc), which would give a share price if 3-4p.

The spread is incredibly tight, I'm getting quoted 0.3817 to sell and 0.387 to buy

Over compacted tgat should have been - bleddy autocorrect!

The issue with the heap leach was the material had been overcomplicated, with too many fines leading to a loss of permeability.

Back when I did my degree over 20 years ago, the payback period for investment in a mining project was 3 years as a rule of thumb. Comparing Leigh Creek with Parys mountain probably isn't useful, they are two very different projects - people here are worried about 3 months for permitting LC, PM will probably be in the order of 3 years. I would call LC a niche operation, which is closer to the kind of projects you see on Aussie Gold hunters rather than PM.

Its incredibly unlikely that the mine would have to close - Newfoundland and Labrador is incredibly sparsely populated with a population the size of Cornwall (550,000), but twice the size of the UK. To date the province has recorded 380 cases of CoVid.

1. We aren't expecting any news, other than seeing production levels recovering in the next set of results.

2. The mine was losing money in a low copper price environment last year, on top of the costs. Part of the turnaround plan included opening up higher grade ore zones, which required increased capital costs. At the end if 2019 production levels were hitting their target and the higher grade zones were beginning to come on stream, at which point 2020 should have been a very good year. However as CoVid came into play and the mine put in measures to prevent any spread in the mine, it massively hit productivity levels, causing massive cash burn - this led to the company having to take out bridging loans etc, while they refinanced. As the delays in the refinancing occurred, this appears to be what led to the share price collapse. When the refinancing came about (Confirmed 2 weeks ago) , it included an equity raise at the now cheap share price (without the refinancing the company could gave collapsed - they were out of cash, and unable to make necessary capital investments, so it appears people got out for fear of losing everything). With the capital finance now in place, the much higher commodity prices and companies now managing to work with CoVid (bear in mind the mine is located in a very sparsely populated area of Canada), the company should be making significant profits going forward (next years annual profit is likely to be in excess of tge current market cap)

If you look at sedar, its lodged there under rambler in 2013

They are also incredibly good value at their production levels in the current market, with their cost, they are set for $200 million per year operating profit. They're market cap should be in excess of £1 billion - and thats conservative, as a mining company they should be looking at a P/E ratio of 10-15.

https://www.canadianminingjournal.com/features/little-deer/

This is the main other property owned 100% by rambler, which to be frank any exploration company with this on their books would be worth the current market cap

Just one other thing - a mine does not produce APT, thats produced by a downstream refinery, its purely used for pricing, as opposed to using a refined metal price - which is mainly to do with the incredibly high melting point of tungsten. The mine produces a WO3 concentrate.

A metric tonne unit of Ammonium Paratungstate weighs 10kg, containing 7.93kg of Tungsten. Why its called a Metric Tonne Unit is a mystery to me!

Hi Malik, I hope that last post wasn't aimed at me, it was meant as an explanation not an attack, and I would be a bit worried if you saw it as that!

Malik, they are very clear in the H1 report on how CoVid seriously impacted H1 production, exactly as it did in nearly every business. There is no reason why as companies evolve to Covid working requirements and restrictions begin easing, that the mine will very quickly return to 2019 H2 levels, but with higher grade ore being mined, meaning cash costs will be significantly below H2 2019.

I know Troajan, that was my response to Thetruth.