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Newcrest Mining Ltd NCMGF


Primary Symbol: A.NCM

Newcrest Mining Limited is an Australia-based mining company. The Company's principal activities are exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. The Company owns and operates a portfolio of brownfields and greenfields exploration projects. The Company’s assets include Brucejack, Cadia, Havieron, Lihir, Red Chris, Telfer and Wafi-Golpu. The Brucejack asset is located approximately 950 kilometers (km) from Vancouver, Canada. The Cadia asset is located approximately 25 km from Orange, New South Wales (NSW). The Havieron asset is located approximately 45 km east of Telfer. The Lihir asset is located on the Niolam Island, approximately 900 km from Port Moresby, Papua New Guinea (PNG). The Red Chris asset is located approximately 1,700 km from Vancouver, Canada. The Telfer asset is located approximately 400 km from Port Hedland, WA. The Wafi-Golpu asset is located approximately 65 km from the city of Lae, PNG.


ASX:NCM - Post by User

Post by miningmanon Nov 02, 2019 12:30pm
193 Views
Post# 30301015

Stope availabilty, a serious analysis and problem

Stope availabilty, a serious analysis and problemThe ongoing   reference to   "  inadequate stope availabilty"   as an  excuse for production shortfalls   doesnt sit well at all.

Heres  post of  mine from  Aug  2017.......  over 2 years ago!!!!!!........ that clearly identified a need for  seven  stopes in  production  at all times    Joe O  confirmed this number several times over the last   two years.

https://stockhouse.com/companies/bullboard/t.pvg/pretium-resources-inc?postid=26572794


N
ote that  the PVG  press release of the same date    alluded to 27   additional  stopes being developed at that time.    A   later    release stated that  a total of  42  were either in production  or being prepped ready for production.      This I thought was a major step  in  the right direction.  

Yesterdays  CC,   Joe stated there were 6 or 7  stopes in pfoduction   and the temporary loss of one stope   was the prime cause of  the missed production.  Untill   this weekend I suspected that   inadequate  quantities of fill   was the obvious explanation for  "stope unavailability"  Think about it,   if two years is inadequate to  get to where they need to be ,  how  much longer do they need??


Then  I finally woke up.  1000  metres of development monthly is an obscene amount  of development  to undertake  in parrallel  with feeding a mill......... regardless of the size of the mill.    They probably have dozens of stopes  semi prepared   ,  ready for productiion.  When  Joe says  we have a problem with inadequate  number of stopes ,  what he really means is wehave a problem with inadequate number of stopes,   WHICH  WILL SUPPLY A HEAD GRADE IN EXCESS OF 8 GRAMS.

Obviously if one is trying for mill grades of   say 10 or 11  grams,    one can only  take a certain  amount  of lower grade tonnage.    

If you go back to Q2   2017 ,  look at the head grades when  Cleo   was being mined.    Thats what everyone here has been  waiting for.  Guess what???    If another Cleo has not been identified  and mined over a 2 year period,   then  these   jewellry boxes are not ubiquitous   as Joe stated   numerous times.  

That is why   this mine is looking  increasingly like a 7  or 8  gram operation....


The   shortfall in tonnage in  Q3     is a double whammy in  the making.    I am sure the mill can handle 3800 tpd  but they've never been   effectively   challenged.   Joe   and co will have to  decide  on   3800  tonnes at perhaps  7 grams or   3300   tonnes at  8 grams.

I look forward to  serious  counter arguments , backed up by facts,  not backed up by Joes ongoing  grossly  overoptimistc  estimates ,  with selective dissemination of relevant facts
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