re: Ann: EVG receives encouraging results - E...
As is usual with most of Brians announcments it left me with more questions than answers ie
"Mr Johnson said that it was expected around half of the gold recovered would be by a low cost gravity circuit"
To me that statement indicates they could crush and gravity seperate the ore then stockpile it before putting it through a CIP vat leach set up (like what MCO intend to do) which may mean only $6M in CAPEX needed for plant initially.
The mention of hanging wall and foot wall to seems a bit of a misnomer to on what are almost flat seams for the ore body Imagine a swimming pool with instead of water gold impregnated quartz filling the pool to a 0.5 metre depth and then tilted at 20% from the horizontal, thats what the seams would be like so the talk of footwall and hanging wall is inaccurate for shareholders like myself who think of footwalls and hanging walls for near vertical seems of ore only,
To mine the ore body they will need at least 2 metres of head room this is going to dilute to ore coming out of a 0.5 metre wide seem
Also the mention of malachite indicates copper so is the copper worth processing?
Going by the names on the latest ASX options announcment there are a few punters on this thread with some substantial option holdings
I welcome corrections in any of my assumptions
EVG Price at posting:
9.0¢ Sentiment: None Disclosure: Held
