Post by
Red_Deer on Jul 25, 2023 3:30pm
The Open Pit Mining UpDATE ToDay,,,,,,NEUTRAL OutLOOK...????
""Open pit mining started in May 2023, and the ramping up of earth moving has escalated according to schedule. While the strip ratio is expected to average 6.5:1 waste to ore during ramp-up mining; it has focused on reducing overburden and exposing ore in preparation for the mill start-up. In total, 500,000 tonnes of waste have been mined and 15,000 tonnes of ore have been placed on the run-of-mine (“ROM”) pad, preparing to be fed into the mill. Earthmoving is averaging over 10,000 tonnes per day ahead of the required 8,000 tonnes needed to meet the mine plan. On Tuesday, July 25, an ore block of 10,000 tonnes is planned to be blasted in preparation for mill start-up.""
FINALLY !!!!!!!!!!__Some REAL DATA !!!!!!!!
IN SHORT__What ALL These Numbers Mean IS That Trigon WILL HAVE 25000 Tonnes of ORE Ready to PUT THRU the MILL__STARTING Next WEEK
This IS GOOD__As REVENUES Are NEEDED to START PAYING For the SIGNIFICANT COST of
ReMoving 500,000 Tonnes of WASTE__EXPOSING 25,000 Tonnes of ORE.
What Is NOT GOOD__IS Confirmation That the EXPECTED STRIP RATIO Will Be 6.5 eh !!!
This IS on the HIGH SIDE__MEANING That BOTH the ORE GRADE and MOST IMPORTANT
the COPPER %% in the CONCENTRATES__Both HAVE To BE VERY GOOD.
Last Year the COPPER %% in the Concentrates Was LESS THAN 20%%__Which MEANT That
REVENUES Likely Did NOT Pay For ALL COSTS__Thus NO PROFITS
With a 6.5 Strip Ratio__Copper %% in the Concentrates LIKELY MAY NEED to BE in the HIGH
20s__Or MayBe EVEN in the 30s__In Order to ACHIEVE an ACTUAL PROFIT
VERY LIKELY it Was THIS KIND of DATA__ON WHICH the LARGE SHORT Position WAS Taken.