RXL 3.23% 16.0¢ rox resources limited

Ann: World Class Zn-Pb Resource at Teena-RXL.AX, page-32

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  1. 10,867 Posts.
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    I personally wouldn't write it off just yet due to depth... I'm not investing in it but I wouldn't write it off as uneconomic without further comparisons.

    Just to give clarity, this resource (58Mt @ 12.7% ZnEq (roughly)) is equivalent (at todays prices of 86cents/lb zinc and 210cents/lib copper) to around 58Mt @ 5.2% copper equivalent (to give you a rough idea of the value).

    Would that be mined?

    Well currently there is this mine going ahead:

    http://resolutioncopper.com/the-project/

    which is 2100 metres below surface however it does contain 25Mt of copper (versus roughly 2.9Mt here) at a grade of 1.52% (versus an Eq of 5.2% here).

    So tit for tat it doesn't look overly bad on the surface. The massive capex for the initial development may require some additional resource size, I'm not sure.
 
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