RE:Good paced RNC Minerals news flow, AUD gold & Baloo open pitPierre,
Starr was quoting Balloo info publised in, for example, S2R 2017 Annual Report (before it was sold to Westgold), link below.
https://www.s2resources.com.au/documents/ASXann170920AnnualReport.pdf
Check out Operation Review, page 10
- Polar Bear, total 264,000 oz @ ~2 gpt, some higher grade was found later @ 44.1 (at depth, but not that deep), page 10
- Nanook, total 84,000 oz @ lower grade, but higher grade found as well 55.5 gpt, page 13. Check out also Moonsoon (in between the two), page 13.
What's attractive about Baloo is that the deposit is just a few m below the surface, and the potential high grade is open-pitable. I believe they all contain soft oxide ores. A larger RE is located at Mt. Henry (70km away from the Mill), but the ore is harder (to grind) so they just stopped the operation there down and save that resource for later (the deposit will stay put and won't just disappear). Grade is also around 2gpt, not bad for OP.
Cheers,
GH11
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pierreg wrote: Good post by Darp Research AKA @Geodan on Seeking Alpha June 22nd 2019 about good paced news flow, AUD gold price and Baloo open pit:
« There is no reason at all for RNC to hold back news now. HGO and GDXJ are done deals now. Starr made it clear new resource report is days away, more FDV gold nuggets can be announced any day. There is the picture of the first RNC gold bar coming out of HGO mill. Polar Bear startup news, drill reports, etc. It should be super newsy next 6 months.
With Friday fireworks at end of day, do expect it to pull in chart traders Monday. It is quite the chart now. With gold over $2,000oz Aud they can pay off HGO quite fast, the HGO buy had perfect timing. Today what a steal it was. Think Starr said 2 grams ton at Polar Bear/Baloo. That is rich ore for an open pit.
Cheers. »