GREY:PGDIF - Post by User
Post by
ekimon Jan 19, 2015 8:59pm
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Post# 23337483
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Other presentations1995 - Peak exploration OZ - 2015 - Peak Production OZ. Takes 20 years.
Running out of Economic gold deposits..not running of gold.
Market Capital has been about 1/10th the capital required for a mine.
For every 10 deposits that are 1 g/t, there is one deposit @ 2.5 g/t
Identify projects that give you the highest margin
Report identified 75 projects that have failed and the main reason:
35 - Grade problems
16 - Processing problems
10 - Mining Method problems
8 - Capex
7 - Opex
6 - Social
5 - Price/timing.
Suggested that Grade problems (variable, etc.) and processing issues should be looked at as fatal flaws predominently. Others should be looked at as well.
I guess that is why we do LDD and bulk sampling to rule off # 1 on this list - Grade and grade variability.
Processing - Not as a complicated base some other commodities (ie. Nickel)...but didn't someone say that Jericho/Tahera's material was harder then they thought. I wonder what state we are at. I believe there was some mention of metallurgical testing on some of the core.
Mining Method - No brainer - straight forward open pit, UG might be a bit more complicated...but won't be included in initial economics.
The one speaker gave Mirasol and Pilot Gold as 2 high margin type properties.
LONG...PGD
EKIM