Tudor Gold Corp V.TUD

KSM gold recovery rates?

[rockport1]

I have looked for the KSM recovery rates this in the past, and asked for help finding them, but no luck.  The numbers in the early PEAs were in the sub 75% range.  However, at some point SEA stopped publishing them, at least in an easy to way to determine.  

The best I can work out is: that KSM wil produce 36 million oz gold from 47.3 million P&P reserves over 33 years.  This back-of-the-enevelope calcuation is 76% of reserves. Please point to the official recovery numbers if youi know where they are published. 

If KSM can be economic with such low recovery rates, low grades, and tunnel costs, Goldstorm is likely to have far superior economics.  As a comparison, remember, with a 1.0 g/t cutoff, Goldstorm produces an indicated resource of over 15 million AuEq with an average grade of 1.48 g/t.  And since the Goldstorm is still expanding to the N/NE with better grades, these numbers are likely to improve with this year's drilling. 

It will be interesting to see the maiden PEA after this year's drilling on Goldstorm.

[fordster]

Only 36 million oz for Seabridge? Oh...we're so going to pass that number by the time where done.

[rockport1]

The 36 million are mineable recovered ounces from proven and probable reserves.  Plus Seabridge does not put all the KSM resources into the initial PFS, splitting a lot out for a latter stage development.  So the total resource is much, much higher. Sorry, too lazy to look it up. Goldstorm has a long way to go to reach the KSM numbers. If Perfectstorm and maybe CBS also become sizable

[GuruNN]

It doesn't really matter to me who has more ounces.    What's important to me as a Tudor investor are the questions, metallurgy, pre-feasibility and the letter from the Ministry regarding Seabridge's activities on TC with the announcement:    Seabridge and Tudor sit down and talk (and come to an agreement).   The LoO expires in September, and there

[Larry60]

rockport, youre right that its based on proven and probale reserves, not indicated resource.  A maassive difference that pumpers luv to ignore. on TC, id just like to see a viable reserve and mine plan.  I dont need 100M oz.............weve got enought to work with already.  Would luv to see high grade but time to stop chasing it year after year...................it can come later

[rockport1]

Personally, I'm happy with Konkin's approach. I don't think he is chasing ounces just to chase ounces.  He is attempting to find the heart of the deposit, so they can upgrade the quality of the deposit, which then allows them to outline the mine infrastructure plan.  If they don't do this first, they are just wasting the cost of the PEA, because it the eventual plan will

[Larry60]

How many more years you think needed to find the heart of the deposit??? How do you think this years exporation program will compare to last years?  I think they spend around $22M last year.  They had about $7M in bank at befining of this year? As for PEAs???  Usually not the paper theyre written on.  But it is a starting point and an opporutniyht to flesh out some of the

[Jetstream1281]

I think we'll see even stronger results than we did last year....I'm hoping for some more solid high grade hits....Rockport I have been banging the same drum as you....don't waste money on a PEA that will be out of date by the time it's written....doesn't make sense....spend that half million dollars drilling....

[rockport1]

Yes, particularly in this tough financing environment.  If they do use those funds to define one or more supercells, that would be money well-spent.

[Larry60]

maybe just trim the crackerjack IR team a little, cancel a confernece or two, defitinatley cut out the paid for pump pieces,  and use the savings to pur out a PEA for a few hundred thousad...........and move on. The obsessiveness of tryin to save a few hundred grand on a PEA for a company that burnt through over $25 million last year is simply worrying................like a PEA is gonna make

[fordster]

I totally think you're wrong and are in the minority here. This has been a slow and deliberate method of developing an extremely prolific mine with it eventually accomplishing the PEA and MET in the appropriate time frame. No one could be accomplishing it faster. You criticize the inherit beurocratic steps that need to be accomplished in their proper order as if there's blame to be placed

[Larry60]

Fordy. A PEA is a very simple doc.  Not a lot of time, not a lot of money.  Its also very very top level and for those who proceed through prefeas and feas the final reserves and mine plan look very different than PEA (and almost always, the economics decline significantly).  But still, the PEA is a STARTING POINT.  Years will go by after it before a production decision is

[cskhurasu]

On a major project like KSM, you get several PEAs as the exploration unfolds, PEAs are part of the exploration process. Successful companies do not drill every last target before doing the met work and initial project design. Making a mine is an iterative process, not a straight line. Every real company does a PEA as soon as possible in the process to show their shareholders they are on the right

[Larry60]

luv him or hate him, but CSKs post below is common sense in mining.  If you see it as "bashing", you need to get your head out of the sand!!!!!!!!!!!!!! KK is a supreme geologist.............but we need the back of the envelope 1st PEA to kick things off and, more importantly, to get people focusses on the challenges that need to be dealt with in order to get to a production

[stockzorg]

Agree that the first PEA will not be a final, but I don't see anything wrong with drilling for another season now that supercells are showing up.  The first PEA will drive valuation for a while. SEA went much longer before their first PEA and I think they have some economic deposits there. Fortunately KK does not have the patience of a meth addict who's a bit late for his next hit

[CobraShelby]

Well said Stockzorg. GLTA

[cskhurasu]

You think you are developing an extremely prolific mine at TC? You have no idea. What you have is an extemely large data base of drill results. That's not a mine. 

[Larry60]

CSK, if I were a SEA shareholder (Im NOT!) what would  concern me is: "Since early site construction commenced in 2021, Seabridge has spent $444 million on substantially started activities with a significant portion of the spend to First Nation related companies Work focused on roads, bridges, camps, fish compensation and power infrastructure" That is alot of chump change for

[fordster]

We don't have a 6 billion $ tunnel, first off.

[Larry60]

netither does SEA...................thats their problem!!!!!!!!!!!!!!!!!!

[Jetstream1281]

The 1-2 billion in an access tunnel they don't have a permit for doesn't bother you? You could build a lot of infrastructure on this side of the mountain for that kind of money.....infrastructure that will have to be built over and above that on SEA's side.

[fordster]

Thnx for the correction JS...2 billion $ tunnel.

[cskhurasu]

SEA's MTT tunnel complex is estimated to cost about $1 billion. It ensures that tailings are stored in an approved, environmentally secure valley. TC will need approved tailings disposal also. Where? That's what a PEA would tell us. SEA did not design for an MTT because they like to build tunnels. They did it to locate tailings. The only suitable valley is many kms from the orebodies

[Larry60]

Yes, but TC has the benefit of better location for tailings ie dont have to go under a mountain to ge there. Listen, SEA is years ahead of us in timing.  But by the time they build the MTT, cost will be $2B to 3B easy.  Of cousre, rising gold/copper will likely more than make up for that.

[remucker]

welcome to b c  probably one of the the most expensive places to mine a ore body . and gets more expensive every year . 

[fordster]

BC seems reasonable compared to anywhere in the US...but specifically to California. The great news is, once you pass everything needed to do a mine, it's stable and set in stone. Looking forward to that day for Treaty Creek.

[Larry60]

I think he was referring to the costs involved in the Golden Triangel.......drilling and logistics very expensive....building a mine under a glacier????  Ill give you the good news 1st:  There will be no glaicer left by the time they start building a mine

[cskhurasu]

Yes, the Golden Traingle is expensive to work in. Mother nature rarely makes mining easy.

[rockport1]

We probably don't have to worry about how long any longer.  Konkin has verbally committed to a PEA within a year.  I assume, they will focus all their drilling this year to define the "heart" of the deposit.  A PEA is likely to follow even if they don't accomplish this.

[thehammer2]

I agree. This will be a focused effort IMO. Now the question is, in my view, would this be a risk that Seabridge ( or others) would want to take. Drill and find and they will come. Time will tell. Just a few weeks away. Would like to see an update on the start. TH

[cskhurasu]

Perhaps you do not know that drilled grade is reduced not only by recoveries but also by mining dilution and refining losses. 

[fordster]

Oh how could I have possibly missed the obvious, oh great one? lol lol lol Youre just so daft...Disliked by literally all but you continue. Seabridge professional here to sow seeds of irritation...no, no informative news...sorry.

[rockport1]

Agreed. That is why I'm looking for the recovery numbers.  Please post a link to where Seabridge publishes the rates.