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Cashmeoutside

859 Posts.

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10/09/18

13:29

Post #: 35496752
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Originally posted by Cashmeoutside ↑

Really impressive post - thanks John. There’s just so much upside to those PFS figures in my mind following the results of infill drilling and resource upgrade recently announced.

The PFS used a resource of 21mt @ 1.02% with a 2.5mtpa throughput operation. We now have a major resource upgrade (and likely more to come) showing a resource well in excess of that used in the PFS. There’s also big uplift in grade which is evident in the 18mt grading 1.97% using a 1% cutoff (vs 21mt grading 1.43% in PFS).

I think if you tweak the PFS figures up to a 3mtpa throughput as announced recently and targeted some of those higher grade tonnes early there will be well over 40ktpa Cu produced over the first ten years (vs the 23ktpa).. and the costs per tonne will come down as a result and the NPV will be at a minimum 50% higher IMO. And that’s just T3....

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I should amend and say that 21mt @1.02% in the PFS was the reserve not the resource.

MOD Price at posting: 42.0¢ Sentiment: Buy Disclosure: Held
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