KRM 2.63% 3.7¢ kingsrose mining limited

Ann: Half Yearly Report and Accounts, page-11

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  1. 1,018 Posts.
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    Are people giving up on both UG mines?

    I believe that any explorations must go all the way deep down to ores body to understand much better with geologies.
    It's better view to look up than to look down in a dark area ( no skirts ok)

    The company said the Tanlang Santo UG mine "may be viable in the future" after decommissioning of the mine was completed.
    The company is working to establish an open pit mining in due course as "the recovery of ore left in the upper level was possible and had potential to generate significant cash flow for the company"

    The company also said there were "strong results studies to expand existing Way Lingo open pit" following the best recovery rate in the UG with 97.4% for gold and 87.1% for silver.
    These recovery rates are normally found on open pit operations not UG operations.

    Contracts for Engineering works had been signed and permits are expected around September 2018 and works have started.

    I believe the company will strike sweet spots in open pit development in Way Lingo that will result LOWER stripping ratio to offset higher ASIC.

    I know this will have better success rate going from UG to open pit rather than to keep digging and realize the resources are at different area.

    It's similar as to find a sweet spot in shale oil.
 
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3.7¢
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