RSG 3.61% 43.0¢ resolute mining limited

Also if we are comparing PRU to RSG there is no comparison IMO....

  1. 11,185 Posts.
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    Also if we are comparing PRU to RSG there is no comparison IMO. At Edikan PRU are scratching around open pits where the gold mineralisation is mainly low grade and hosted in granite intrusions. The mineralisation might go on forever at depth but it's grade doesn't increase and where you have higher grade zones associated with carbonaceous sediments in gange rock, this type of ore contributes to peg-robbing so can only be "sprinkled" into the mill feed. The Fetsih pit was a disappointment considering the tens of millions that it cost to rehouse the population (a problem RSG don't have in Southern Mali) and the fact the grades didn't reconcile. Last time I looked the Chirawewa pit was contributing nicely because the pit was close to its base and they were achieving very low strip ratios. Does anyone know if this pit is still going. The Esuajah gap mineralisation is going to involve a major pit cut back from Esuajah south so lots of dirt to move. I also got the feeling that when planning the general site lay out they didn't give proper consideration to the location of the waste dumps, a bit like at Syama with Nafolo.

    All in all PRU are scratching around at Edikan for ore with a grade of about one third of Syama's UG ore reserve grade, mine life is nowhere near as long and there is little to no UG potential.

    The ironic thing is that what is bouying PRU at the moment is their second operation at Sissigue which in the context of Syama would be considered a satellite pit. Sissigue has a current mine life of 5 years and based on the revised feasibilty from 2015 the pits at Sissigue have a strike length of 800m. Now compare that with Figure 3 of the 18 Dec 2018 Tabakoroni exploration update. RSG reports mineralisation at Tabakoroni over a strike length of 1.5 km. Also look at the grades below the proposed pits at Tabakoroni, the lastest exploration update reports 41m at 12.15 g/t in one intersection. Sissigue also has some high grade but most of the mineralisation is sub 2 g/t with some zones between 2 to 5 g/t. The reserve grade in fresh ore at Sissigue is 3.1 g/t (oxide 1.6 g/t, transitional 2.2 g/t). IMO Tabakoroni is going to be equal or better than Sissigue and its already started with little fan fair.

    Let's not mention Tabakoroni north and the 80km of lightly explored and prospective exploration tenure along the fault/shear zone on which Syama and Tabakoroni sit. Once Syama is generating cash and exploration budgets can be allocated RSG will be finding "new" deposits every few years IMO. Esh
 
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