Member Info for Lucky520

I have wondered what the economics would be between racecourse and footrot if fotroot has a resource. Would 7km of conveyor belts be economic or would you move the processing plants and set up a new system?

Well we fitted an electric tracking collar on him and when he's bad or goes where he shouldn't we zap him.

Some questions for the up coming AGM whenever that is!
1. Are we going to test any areas between racecourse and foot rot?
2. How much more drilling will be needed after phase 2?
3. How much funding will we need for additional drilling and infill drilling.
4. Will the income from assets pay for additional drilling.
5. When the FK are we going to get any income!!

Feel free to add to the list.

I think china's attempt to calm the market has failed, they only have so much reserves and it's not working.
The demand for copper will out strip supply massively.
However like racecourse, many mines will now be profitable using lower grade ore. That will make up some of the deficit.

The one fantastic bit of news we have had is we are economical down to .15 %.

I suspect the 3% buyout is on the low side given the location and how pro mining Australia is.
I don't however think anyone will use $10k copper price at the moment. It is a peak which won't be used. It could however be used if copper goes to $15k a tonne between now and when we sell it.
Who knows where the copper price will be but it is a major factor when we come to sell.
Hopefully the copper price stays high and 10k is considered the new normal.

Yes I'm well aware of all the ifs and buts and am too confident it will eventually be a mine but when?
Today we were told end of November for the first 8000m. Originally we were end of December for all of phase 2 which was 20,000m. So now how much longer do we have to wait. I was shot down for saying the new jorc would be September next year!! Looks like we might only finish the drilling by next September!!
That is if there's not a phase 3 drilling program!
I hope the African assets start producing asap because I can see bushranger taking a few more pennies to get to AA buy back clause.

Doesn't matter if the copper is worth 6-7 billion.
If the mine is not economical it won't get built.
If theres not enough profit it won't get sold.
We could end up getting the 2mt target and it not actually being economical, Unlikely but possible.

CB said 15mt a year for 20 years which equates to 300m.
At .3% copper that's 900,000 tonnes.
Not anywhere near the 2mt.
Have I missed something?

The second photo of the core show it looking very dark? Is this because it's wet or is it like alkanes core samples which were very dark too. Possible connection in mineralization?
Anyone hazard a guess?

Read this article, it's very informative.

https://insights.csaglobal.com/market-value-doesnt-match-npv/

Obviously the current resource wasn't going to be economical to mine because if it was do you think we would have picked it up for just over a million!!.
Nobody will mine that resource with those economics.

It is the base of what we have and now we need to build on that. We need more tonnage and I would like to see some better grades near surface.
All of which I believe we will get over the next 6 months.

Completion of the first hole will likely be over the weekend so I expect we may get an rns Monday.
That is if they tell us every time a hole finishes?
I don't think we need an rns Everytime a hole starts and stops.

What if we're sitting on multiple porphyrys along the strike. What if there is a porphyry larger than racecourse in the middle of racecourse and footrot. ??

What I would like to know is if we hit the 2mt can we continue to explore to increase the tonnage or do we have to offer it to anglo once we have confirmed 2mt. ?? I would really like some IP lines done between footrot and racecourse.

https://www.proactiveinvestors.co.uk/companies/news/955016/copper-silver-and-nickel-to-get-a-boost-from-biden-infrastructure-plan-955016.html

Colin said it looks like a goer!! Let's hope it is colin and we are all rewarded handsomely. GLA

Hot, I suppose you bought in below 1p and sold at 8.5?
Now your going to call the bottom and sell perfectly on the next spike?

Good report. This bit got me.....
there are currently about 7 million electric vehicles in the world today. By 2040, they estimate around 30% of the world’s passenger cars will be electric. To me that’s a conservative and reasonable number. It means 500 million EVs will be on the road in 20 years, out of a total vehicle fleet of 1.6 billion. If each EV contains 85 kg of copper, that is 42,500,000,000 kg, or 42,500,000 tonnes of copper, roughly twice the current volume of copper produced by all of the world’s copper mines.

Just so we’re clear — in 20 years, BloombergNEF says copper miners need to double the amount of global copper production, just to meet the demand for a 30% penetration rate of electric vehicles. That means an extra million tonnes a year, over and above what we mine now, every year for the next 20 years!

With a mcap of around 28m I think it's well over sold.
Bring on the revenue Colin!! Lets have some news on that!

https://youtu.be/GBSaqFttIyYWorth watching the link above again for those losing confidence. I just have as I was thinking of selling and buying then back as this drop carries on but I just can't bring myself to take that risk. I'm holding and hope it pays off in the next 3 weeks.