ORS plant can process 150,000 tonnes per year, and operates at a rate of 480 tonnes per day. At an optimised (speculative opinion) 6-8 g/t au per tonne, produces 29,000 - 38,700 ounces per year.
I had a closer look at open pit ore from Pearl Croydon, and they have a small starter pit at London Hill that is estimated to contain 26,500 -44,500 tonnes at 4.7 - 7.1 g/t au, and is at a very shallow depth. So initial feed will be running at significantly higher grade that the average of 2.9 g/t au used in my initial posting. At a process rate of 4,500 tonnes per month this provides 6-10 months of high grade feed to the plant.
Looks like they will be adding more miners. Underground development rate has been on the order of 92 metres per quarter, with the underground mine team operating 4 days x 12.5 hours. I understand that the underground mine team currently consists of 3 personnel. I assume that they will increase operating hours and add another team ASAP to double the development and mining rate AND need to pick the pace of drilling out Eaglehawk and Western Reef so they can optimise development.
Good luck to all longs
ORS Price at posting:
5.1¢ Sentiment: LT Buy Disclosure: Held
