Otago, hi.....Yes, very interesting link.....you may be onto something as lot of synergies there.
I hope the Steinepreis not too involved if anything eventuates. The available funds not huge, but as you point out, the potential seems to be there.
Would be comforting were there a little more info flow from both PV and the BCL liquidator as we go along.
The only way I can see any real benefit for BML would be JV as the money available doesn't leave much wriggle room.
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Kitco yesterday: Ni 4.3586 US$/lb
Cu 2.69
Cobalt US$ 26.99/lb (off a 27.90 52 week high. (InfoMine)).
Plat 29.81 $/gram
Palladium 27.81 $/g
Gold 39.77/g
Rhodium 1030 US$/oz
Ruthenium 65 US$/oz.
Just going back to the 2015 JORC (based only on 2014 drills and no allowance for Co) was 2.38 M/t . Using the 0.3% Nickel cutoff, Ni % was 0.72, Cu 0.21. The PGM's and gold in g/t Pt 0.08, Pd 0.36, Rh 0.04, Ru 0.05, Au 0.1.
Using these prices and average assays 'in the ground' Ni at US$ 4.35/lb contributes $68.20/tonne ore, Cu at $2.70 $12.96. Gold (in theory, and if recoverable) at $39.77/g contributes $3.97, Pt $2.38, Pd $10.01, Rh $ 1.32, and Ru $ 0.10.
With Cobalt lets assume - only for the sake of this very round figure exercise - 550 ppm, or 0.05%. We all know Co not included in the JORC and assays have been both well below and well above this assumed average of 550 ppm, so I suggest 55o
0 a fairly safe figure.
0.05% gives say 1.12 lb/t Co metal. At (US$ 26.99) say 27$ even per lb contributes $30.24 per tonne ore.
A basket based on these figures is US$ 129.18/t. 2.38 M/t gives US$ 307.4 M in the ground.
As anyone will say, these are very rough figures, and 'ore' is pretty much worthless until mined, but it is a guideline figure, say $300 M roughly. The deposit is still open, and makes no allowance for the Airstrip Copper deposit, and all the other potential...Takane, etc. Even 70% is $210M.
Let's not be in a rush to give it away cheaply.
Remember yesterday's post ....the Amur deposit in Russia costed at just $24/tonne, the only real difference between the two deposits being the sizes....the assay averages are virtually similar.
Remember I am only another poster, no mining specific credentials except normal experience, but I still believe there is potential in BML, no doubt. Number of shares on issue, the current share price, the whole BCL saga, the lack of funds, are all negatives, and the reason a replacement JV is vital. Thus it will be interesting to follow how the BCL liquidation unfolds, and if the route Otago has given us detail on , or ARM , or another, come to pass, but on decent terms.
Have a nice day, all, and
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MATT CHAMBERS
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