Blasting and mining pre-strip work has begun, and Kagara will begin carting ore shortly.
Based on mine optimisation, a probable ore reserve for Baal Gammon has been generated; 3.1 million tonnes at 0.95% copper, 0.2% tin, 34.3 grams per tonne silver and 29.6 grams per tonne indium, with plus-29,000 tonnes of copper metal.
Now, 0.95% is low grade but there's a lot of it.
I calculate the IGV (in ground value) to be:
Copper: $7405 per tonne x (3.1m*0.095) 29,450t = USD $21.8m
Silver content: = (34.3g*31.mt) 1010135g/28.34 oz - 35,643 oz x $35 = USD $1.2m
KZL Price at posting:
42.5¢ Sentiment: Buy Disclosure: Held
