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Also look at overburden stress. Clever guy Bernie and his crew.

Island girl, daz423 found something in my lunch break. While obviously having gold in your drilling sample is the single most important factor or you would not mine. The major factor is not the grammes per tonne it is the depth it is found at. Then the overburden material - rock isnt great. The depth and the overburden material dictate the grammes per tonne required to be profitable. Commonly called stripping ratios. There are stripping ratio calculations on the net, but you would need more data to process this.
Fortunately our gold samples are shallow, open pit will do it and a shallow open pit so far based on the current drill results.

Samples -I meant concessions.

Hello island girl. I have not looked at them. Of course there is nothing wrong with profitable mining at any depth. However, obviously as investors, the lower the depth, the lower the cost and the lower the risk. I would like to find a rough rule of thumb. I imagine a gramme on the surface may be equivalent to 8-10 grammes 40m down. I also don't imagine that many deep samples will be mined over a 3km area. I will have a rake through papers and see if I can find anything over the following week.

There are some complex overburden equations but they also require the density of the overburden material, which of course makes sense. Our results are at such shallow depths we do not carry these excessive costs.
However I am staggered at the popularity of another gold result which was only slightly above average at the depths quoted with no knowledge of overburden material in the RNS. Although I think people have read it properly as it is dropping again.
Seems a high figure will attract people no matter how high the cost of extraction and the additional risk this brings to the table.

Daz423 are you up on equivalent net profits or an industry ratio for grammes versus depth. Ie the ratio of what 11 grammes is worth at 80m compared to 2g at 10m as a plucked out of the air example?

Onlyking to be specific you are asking about the Dabakala concession 11km by 3km not the subject of today's RNS. For the benefit of other readers.

It has been confirmed that the mining decree has been drafted.

I do not know either. Not sure if they send them in batches or all at the end. He expected them to drill for a few days then the wet season to stop them then resume again afterwards. It was a month late so they kept on drilling, but I don't know how far they got. We will know in the next interview.
Really everything needs updating on their website, we are seeing old spodumene prices way below current figures, old gold figures, it all needs updating.
Interesting that on cora they are going crazy for figures which are common at those depths, the depths are not from the surface. Yet ours at 2m not a blink - amusing.

Yorkshire I agree with you. But this is not a simple share to understand.
Gold near the surface is not common and not over Kms.
To have gold and lithium is not common either.
There is a chance the Lithium licence will land soon and we can get that off the ground and into a compartment. Then focus on the two more advanced gold concessions.

Funny I answered your question but the post vanished

Not sure, the drilling started on the 21st June as they managed to retain the rig and the wet season was late, not 100% sure how far they got before the wet season landed late in August. So much going on it is difficult to keep up. The very shallow gold is also an issue, because much larger amounts deep are worth the same in net profit, because mining shallow is much cheaper. Very difficult for the simple investor to put all of this into context. But all very good so far.

Cora depths given are below the pitshell, ie average 65m from the surface. Totally different.

Km - kilometres - lol.
Never seen anything measured in km.
Very shallow samples. Brilliant.

Daz based on the tonnage you quote below using the 1000 conservative figure it is an additional 448m onto the bottom line.
Incredible, certainly worth the delay.
They do need to update those projections they are out of date.

Daz423 don't quote me either, we are both in the region. Probably they should revaluate the profits with a conservative 900 or 1000 per tonne valuation as the net profit is miles out now.

Daz423 as you say based on 640 per tonne (I had 680 in my head for some reason) except, I think a company Pilbera or similar name just shipped some at 1250 per tonne at the end of July. Even at 8 or 900 per tonne the increase is straight onto the bottom line.

Like I said the danger of selling over the last few days, at risk of being left out in the cold.
Excellent RNS, hopefully an interview video to expand on the results.

This time next year Rodney

Lithium RNS up 300% in minutes.