GREAT global resource and will impressSprott's institutional sales note yesterday:
ANACONDA MINING (ANX-TSX, C$131m Mkt Cap) - Updates Goldboro to 1.9Moz @ 3.8g/t M&I and 800koz @ 4.7g/t inferred for 2.7Moz that includes 1.55Moz @ 6.2g/t UG, with 1.22Moz @ 2.7g/t in the pit. Pit is whittle constrained but 0.44g/t cut off main driver. 4ktpd production rate into footnote (regulator authorized this / new normal) * 2g/t diluted (no dilution listed) = 80koz pa from pit if 2g/t / dilution can be maintained (target 100koz pa @ 2.1-2.2g/t ish). 30-120g/t dynamic top cut. 2x2x2m partent and 0.25x0.25x0.25 sub-blocks (25cm quite tight). Well over 2Moz target, this is what Aurelius could do (same style of min'n). This is a GREAT global resource and will impress. As noted by the extensive commentary on geostats in the release, lots of drilling has gone into this. Pit constrained on M&I only = in-pit RESERVE >1Moz, perhaps 15Mt @ 2.1g/t. KEY next step (same for all the Val d'Or names) is reserve declaration with open-pit dilution meaningful, but with un-diluted grade to play with to a certain extent. UG useful to continue >10yrs, but limited NPV impact for now / won't be a focus.