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11:25
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Originally posted by jogo
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A joke, yacheng? The company paid good money for external consultants to produce the updated Scoping Study. The economics look OK but it is based on JORC resources rather than reserves and so the JORC defined resouces have not yet been assessed as being economic to mine. So this is still an early stage study to give assurance that the exploration activity is worth continuing as potentially economic. The report states that it will be followed by a Pre-Feasibility Study (PFS). The PFS is the next step in the economic assessment process and if things still stack up, then it will be followed by a Definitive Feasibility Study (DFS). The DFS will be based on JORC defined reserves which identifies ore that can be economically mined. The DFS will give a more accurate assessment on both mining and ore processing methods and costs and allows managment to make a rational decision on whether to proceed with a mine. It will identify the capital needed to create and operate a mine and any processing facility.
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Anybody find it a bit strange they are using 3*3meter drives rather than the larger 5*5.5meter drives most mines have ?
(20min delay)