major ree , page-19

Hi Borisdog,

Good to have you posting again. As I said to Ausheds all skeptics are welcome. You wouldn't been following unless you had an open mind.

I don't think water is a problem because of the artesian bore.

I was going to assume a recovery rate through the dry procesing as about 70%. I thought that would be conservative enough. What you think? So 11.25 tonnes of Wet (6.25%) needs to be processed to get 1 tonne (50%) Dry concentrate.

Have you any estimates for the cost of Dry processing and Wet processing Borisdog?

I know the Wet cut off cost is $4.30/T

"US$4.30/T is the break-even operating cost assumed for alluvial mining and first pass wet-plant processing.

Then the report states:

"In reality, very little material is included within the mineralised outline that does not exceed the cut-off by at least one multiple (i.e. US$8.60/T)."

Borisdog, you are correct the average is .03% (sorry once again) but on the above can't it be deduced that that the company is saying that most of the resource has twice the grade that is considered as the cut-off grade? From this it can be assumed from the statement the cut-off grade is well below 0.03% TREO. That's good IMHO.

I would like to know the variance from the mean to what the company describes as "very little material" and what the grade is for the cut-off not just the cost.

If we exclude the dry cost can we assume that the wet cost cut-off as:

y tonnes processed x cut-off cost/T = Toshiba 2016 price/T

gives: y tonnes = 47,000/4.30

this gives about 11,000 tonnes

or a grade of 1/11,000 x 100 = % grade
or .009% grade.

That is not an accurate cut-off grade but it is a start to developing a base for determing the cut-off. We know it will be higher than 0.009%.

I'll keep pondering but there are a lot of variables even without those you pointed out. So thanks for that! LOL.

Cheers