Originally posted by Kranky
You really are not a happy camper are you?
You complain when they don't release details on the mining/processing at RoD and when they do, you complain there isn't enough details.
Simply put this is overall a pretty positive outcome. AUL have:
- trial mined approximately 600T of ore from RoD with an upgrade of 191% from mined face assays of 2.47 gT to a head grade recovered of 4.71 gT.
- proven that the processing plant at MS is working.
- applied for and successfully awarded continuation of ML at RoD.
Some other points of note:
- Comparing A1 mine ann which has been operational for past 2 yrs +, they are recovering at circa 4.5 gT Sep qtr from their "higher grade Victory North block". RoD "trial" mining recovered 4.71 gT and not from the higher grade areas...opportunity to improve recovery grades.
- Additionally, AUL can truck RoD ore to very own MS processing plant circa 20 kms distance whereas A1 truck ore to Maldon plant - circa 900 km round trip...how many gT per load trucking costs for CTL?
Additionally, and this should not be underestimated, AUL have been granted ML at RoD for 3 years. Simply put and this is my take, I would assume ML are similar to EL in that the Company has to actually show that they are investing/spending on EL to have a continuation granted. Therefore for mine, the fact that AUL actually undertook trial mining at RoD actually helped in being granted a 3 year ML at RoD...so well done Tom and team on that front.
So you see HR, when you look at the bigger picture it really is an overall positive ann. Having said that, apart from the initial trial processing at Stacpoole which really didn't have great results and it seems from recent drilling that Stacpoole North (the other end of the reef) could be a better opportunity, every ann re MS/RoD recently has been positive:
- CR for $5 million plus achieved.
- purchasing of MS from Chillee
- successful negotiation with Shandong for RoD.
- successful trial mining at RoD.
- recommissioning of MS processing plant.
- drilling program returning visible gold in a number of holes and virtually gold in every hole.
- first gold bar/dore poured at MS processing plant.
- sale of gold from MS processing plant accomplished.
So, there is a lot to be positive about and plenty of good news to come methinks.
Cheers to all.
The K
I prefer a more skeptical approach, if it works for you go with it. Personally I reckon they need to drillup a 10g/t+ resource to have any hope of making $$ at RoD.
