Member Info for Lucky520

Well Colin said at the AGM, he doesn't believe AA will be interested. He thinks there are others close by that will want it. From what I recall he said AA don't like underground stuff and I may be wrong but I think he mention newcrest? Maybe CE or captian Bob can remember what he said.

Joeman, the best defense for xtract is other majors making an offer for bushranger. The AA agreement doesn't stop others making an offer, infact the competition can make AA pay a premium for it. AA have the write to buy the mine before anyone else and that's it.

Xtract is in the driving seat regarding the sale of bushranger!! AA can't come to us with an offer, we have to go to them once we hit 2mt or decide to mine.
We can value bushranger at whatever we want and AA do not have to pay it.
AA can make us an offer which we do not have to accept!!
If xtract and AA cannot agree a price then we get an independent valuation which xtract also does not have to accept if we do not agree with it.
Basically AA have first refusal at the price we want, if they don't want to pay it then we go elsewhere.
Obviously the board will be taken a risk refusing a sale to AA on an independent valuation but I'm sure Colin will be having a few private phone conversations with other majors to get a feel for what they may well be willing to offer.

Another option is to use the solar and wind energy to make hydrogen, which can then be stored rather than batteries. It could be used for hydrogen trains,ships,trucks etc. Even burned for power generation.

Well the copper will be used to grow evs and electrical infrastructure hopefully powered by green energy in the future. So in the long run you could say its beneficial to the environment.

I actually last night worked out the cost saving on fuel if I get an electric van to replace my diesel van.
It come to £2000 per year. Over the 8 year warranty that's 16k. And I based that on the expensive fast charging costs. I thought buying a 50k van is not worth it but actually over the life of the van it might actually end up paying for itself!

Anyway my point being if bushranger run pure electric equipment rather than diesel. It will reduce the opex.
Also the benefit of a environmentally friendly mine.

Thanks for your response iceberg.
Looking at it briefly, the racecourse deposit has a few benefits compared, the jurisdiction, power,roads, shallow ore etc.
They had 2.8mt of measured and indicated and about 1mt of probable reserves.
Maybe a question to ask Colin when next available.......what will the jorc be? Measured, indicated, inferred?
Is it worth us diluting to gain more funds for an aggressive drilling campaign to get a more proven resource?

I've just come across this acquisition.

https://www.newswire.ca/news-releases/freeport-completes-acquisition-of-yandera-copper-project-898315393.html

I've read it and the grades are similar to ours. the contained copper is between 2.8mt and 3.8mt.
I don't know how much it was bought for?
It also sounds like it's in the mountains and would require a large capex.

I must admit, if you offered me 25p now, I would take it.
However, if there is another deposit the size of racecourse in the SE, I would not be happy with 25p.

So we're a minimum of 6 days into hole 25, possibly longer being the current news being delayed.
Hole 25 could already be finished so news could drop any time. A few hundred metres of mineralisation in Hole 25 will be massive.

Just noticed the resource is wider at the top and thinner at the bottom. Perfect for out open pit sloping walls. Means less waste rock to be moved and more economic to mine. Also better stripping ratio.
We have mineralisation starting pretty much at surface.
This to me looks like one of the easiest porphyrys to mine!

I'm estimating we have 2.3MT at 0.3%.
I think we will blow past 2MT easily.

https://www.mining.com/protests-force-perus-largest-copper-mine-to-halt-operations/

No it's not but a dud in the SE anomaly will cause selling from a few.

Hope it's not a leak on hole 25!

I assume once racecourse becomes a mine most of the equipment will be electrified and also all the trucks etc will be battery. Makes for an environmentally friendly copper mine. Also the running costs will be lower providing electricity costs stay low.

Wow 12Ah. Haven't needed to buy any for a while now.
That would last me a week on one charge haha

She has one of them and I'm not aloud to use it as I will do it wrong! No complaints here lol

Not really, I have tools which all use the same batteries. I have fewer batteries than the tools, lowering cost of purchase. Also once the batteries are done, the new batteries you buy are upgraded to 4Ah 5Ah and now 6Ah. There may even be larger ones out there. I started with 3AH and still have a couple from over 7 years ago. I'm still using 3 and 4 AH and buy the time I upgrade I'm sure I'll only need 2 batterys for all my tools.

I got the v11 last year and best investment I've made for a long time, excluding xtract. No more messing around with cables anymore (for the missus) ;).
I sometimes use it too, very convenient.