Member Info for Cornishknocker

The other big positive is that 34000 tonnes of ore has been stockpiled. The last 2 quarters production has been less than mill throughput, which would have seen the stockpiles depleting, that more than restores them.

Wow, that's impressive, that should equate to a revenue of around $12.3 million!

Redmoor is not a mine therefore there is no care and maintenance. There are overheads, in staff costs, office and core storage. That's not wasted though as James and Brett are able to carry on with resource modelling and exploration planning, along with mine design and scheduling.

At least we now know our baseline revenue $3.06 million per year

That gives a total average of $1695/ Au Oz, so spot on M20ash

If q3 production matches q2 that will give a revenue of $10.9 million

The actual market average prices for the period were approximately $17 for silver and $1475 for gold - that is very positive

Fira, Cornwall Council today turned down the planning application, due to it being a threat to mining. Make no mistake Cornwall Council is very Pro mining and will do whatever it can to see it succeed.

I'm looking forward to the strategic review.im pretty relaxed as the company is still covering it's overheads, however there's not enough coming in for capital investment, which makes getting Leigh creek on stream critical. Unless some additional payment comes in from Cobre, everything needs to go into Leigh creek at the moment.

I am, I'm in the midst of moving house and have just got back from holiday. I've not said anything here as there's nothing to say really at the moment.

There is no capacity issue as I understand, it's always been the case that we can supply more product to more customers

If you do the sums, the payments are tied into the free cash generated by Cobre, in its current position.

LC hits full production once we start mining the pits.

Just looking at the prices, Q1 Average gold price was about $1310, Q2 about $1315 and Q3 so far about $1410 - so that's a substantial rise so far. Silver was Q1 - $15.30, Q2 $14.90 and Q3 so far - $15.15.

Q2 Gold Revenue - $8.47mn
Q2 Silver Revenue - $1.24mn
Total - $9.71mn

Q1 Gold Revenue - $9.56mn
Q1 Silver Revenue - $1.29mn
Total - $10.85mn

Total 2019 Revenue to date - $20.56mn

Assuming same for H2, 2019 Revenue $41.12mn v 2018 $29.25mn
or Up 71% year on year
The forward guidance put out stated 25000 oz which equates to $35mn (add $5mn for the silver), on the present trajectory, the mine will overshoot the guidance by $1.12mn

That looks good to me.

Just bear in mind it is currently 1am in new Mexico, SMG are unlikely to recieve the money until 3pm our time at the earliest, which means it's unlikely that we will hear until monday

Come on, own up, who raided the piggy bank to buy another 4 shares? Dj?

Each of the cones we have, have a capacity of about 100 tonnes of copper per month. The original plan was to relocate the plant after the existing heaps were leaches at MOL. However with the new resource at Rosmann East, which will probablt mean setting up a new plant at lyndhurst.

Ultimately it's academic, but you're assuming that the copper and the waste material have the same density - they don't! The copper has an sg of about 7, whereas the waste is about 2.5. We get paid per tonne of contained copper and all our calcs are on copper not concentrate.

And all is good in the world once more, Client appears to be back on board, money should be in the the bank shortly to pay for Redmoor AND not only that, that would provide sufficient funds to ramp up the work programme at Redmoor and Leigh Creek. It's not a term I like using, but this could bloody well fly!

Just to be clear, in 5he next 12 months we are likely to see a moderate increase in the resource, with the next phase of drilling in the area we are focussed on, I don't believe we are likely to start exploring out of that area yet

Yes I did it was interesting, there was nothing confidential disclosed which is what you'd expect, as that would be a breach of rules. The key points of interest were: -

1. The potential for increase in the ore body size, at the conservative end we are looking at an additional 4-6 MT in the immediate area. What needs to be understood is that at present we are only exploring about 5% of our mineral rights area. On the speculative front, drilling in the 80's showed good shallow zinc grades on the strike of the SVS over 1km to the west. Zinc is a good indicator for the deeper tin and tungsten mineralisation. There is the possibility that we could find that is a continuation of the SVS - that is no more than an idea at the moment, but if it did turn out to be the case, I think we would be looking at a 50MT deposit, which would simply be astonishing. There is also a strong possibility of further undiscovered mineralised zones, that we may find in the future - this would probably be after mining has commenced - in other words there is a high likelihood of this turning into a "permanent mine"

2. Mineral processing, the lessons have been learnt from Hemerdon, local experts who understand treating Cornish ores are engaged and leading the testing, we currently have 3 possible flow sheets, it is the intention to test these at pilot plant scale - this will come later as a relatively large amount of ore will be required.