Ann: Trading Halt, page-82

Mick z

The assays of the stockpiles did not return 22% copper.

On 2/8/18 CCZ announced the results of the stockpile flotation tests of two bulk samples from McDonough's Portal dump and McDonough's Shaft dump. The copper assays of the two samples were 1.0% and 1.2% respectively.

These samples were then subjected to flotation tests to determine the quality of the concentrate which could be produced.

The best concentrate grade achieved was 22% Cu with only 64% of the copper recovered and came from the Shaft dump.

To put it another way...

Let's say you have 100,000 tonnes of dump grading 1.2% copper, that's 1,200 tonnes of copper.

Flotation recovered 64% of the copper to concentrate - 1,200 x 64% = 770 tonnes of copper recovered.

The grade of the concentrate is 22% therefore the tonnes of concentrate are 770 / 22% = 3,500 tonnes.