Nagambie Resources Ltd V.NAG

Dump Leaching Low Grade Copper Mines PROFIT

[Sevster]

"Generally, the capital cost of a bioleaching operation is considerably less, by about 50%, than that of a conventional smelting/refining operation. Quoted operating costs (2002), based on current technology for leaching dumps and in-place ore, are between US$0.18 and US$0.22 per pound of cathode copper, which are competitive with the unit costs of smelting/refining. Heap leaching has the additional cost of mining and transporting to the leach pad. In some operations additional costs are incurred wherein the ROM is crushed and mixed with acid for agglomeration prior to being deposited in the heap" Lets estimate heap leaching production costs: We have 0.23 Grade, thus cost (US cents / lb) Mining 15c Leaching 25c SX/EW 14c Maintenance 3.2c Sales 2c Or about 70 cents (adjusted for inflation) / lb of copper. Current copper price is $3.70 / lb. DO YOUR OWN DD AND DON'T LISTEN TO BASHERS