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ZeroMatrix
Posted in: XTR
Posts: 142
Price: 4.25
No Opinion
RE: News begore the AGM17 Aug 2022 16:14
I'm not well versed in the technicalities of mineral exploration/mining. But am able to understand when something is explained to me. Would anyone be kind enough to say, in a very few words, what this much discussed 'cut off' is? I can almost imagine, but I'm not fully there yet. Many thanks in advance.
Zero, for someone that is well Informed of the jorc....you think you would know what a cut off is?
The financial model being profitable at $4 LB would be a nice kicker for the sp.
Colin buying shares on the open market before this news would be good.
Maybe a podcast with Jeremy read about the new jorc and how most of the new material is just the waste converted to ore, because if this is the case it puts to bed Steve's theory that we have doubled the rock and only increased the copper 50%.
It's somewhere to vent for shareholders. Agree, that person just has a vendetta and is either a trader or ex shareholder. It is also nice to know colin reads the board and maybe it too will be sick of the moaning and deliver something....or stop over promising.
1.3mt of copper is great news but it wasn't because we thought we had 2mt in the bag and a sale last year making 20p minimum, that is why the share price is where it is now.
The whinging is likely not because we have to wait 6 months like other companies....its likely the normal quarterly statements have changed and this brings suspicion, as all trust has now gone.
Like someone else said, it's likely not to look more professional but to give themselves longer to deliver what they keep promising.
People keep moaning about the moaners....Well maybe if something gets delivered!!!! They will stop!!! What's really annoying is the defenders, defending colin and the company when nothing gets delivered as promised or on time.
Colin is the only person who can stop the moaning!
Colin was saying something about the cost to process is now down to about $10 per tonne.
At 0.1 cut off you are breaking even.
Better to process the ore and break even than spend $5 to remove waste and dump it.
This brings back to the consultants saying bushranger is dependent on processing this ore.
Look at the images on the latest jorc and see the amount of mass 0.1 and above.
I'm convinced the guys have managed to get bushranger economical to mine and we will see an NPV over 500m.
Just my opinion.
Anyone here know if capex reduces with length of mining?
Major costs for capex and opex is equipment....this equipment is maintenance and replaced but most of this equipment has a expected life of more than 9/10/11 years.
On multiple readings of the rns it does feel like they already have an idea and they are trying to show you. It may be that the deeper stuff isn't as lucrative but with a capex already paid for and a banked profit after 4/5 years!! I think we could be onto a saleable deposit.
· The copper-gold mineralisation at the Ascot Prospect comes to surface and contains a higher-grade section of 34Mt @ 0.33% CuEq, reported at a cut-off of 0.2% CuEq
· When combined with the shallower higher grade zone previously reported for Racecourse, this gives a total of 225Mt @ 0.33% CuEq of potentially open pittable mineralisation for the Bushranger Project
Above is taken from the latest RNS.
The 26th of July pit study had an opex and capex of approximately 6 billion aus dollars which is approximately 4 billion usd......the shallow open pitable area is approximately 7.5 billion usd worth of copper at $10,000 a tonne.
So just the shallow area can pay off capex and run at a profit of approximately 3.5 billion.
If we have money to spend on Projects and building small scale mines.....why are the team taking shares in instead of wages?.....
It's another form of dilution and also give thier pals for votes to control the company.
Maybe they didn't like of close the last vote was.