NTU 0.00% 2.0¢ northern minerals limited

Ann: Mining campaign completed on time, on budget and more tonnes, page-4

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  1. 5,056 Posts.
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    The only details I can find about ore grade is in the new business plan announcement. Since then the company has not provided any details.

    "The mining operation will consist of an open pit mining campaign over five months from relatively shallow pits at the Wolverine, Gambit West, Gambit Central and Gambit East deposits. A total 172,080t of mineralised material @ 1.19% TREO, containing 2,047,000kg TREO will be mined and stockpiled ready to be fed into the pilot plant. A 1.19% TREO grade is achieved as a result of higher grade ore near surface of the deposits to be mined and will have minimal impact on the ore grade when the Project is developed at full scale.
    It is estimated that of the 2,047,000kg TREO to be mined and processed through the pilot plant, 75% will be from within the Probable Ore Reserve and 25% will be from Inferred Mineral Resources, which is material that will be carried with the ore within the mine designs. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target will be realised."

    http://northernminerals.com.au/wp-c...o-take-Browns-Range-into-production-final.pdf

    I will go one step further and surmise that the additional ore mined above what was originally planned was a requirement due to actual ore grade being lower than anticipated. I find that companies failing to disclose the finer details have something to hide. Why else wouldn't they disclose the actual ore grade in the completed mining campaign announcement.
 
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