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Nevada Copper Corp NEVDQ

Nevada Copper Corp is a Canada-based mining company. The Company is engaged in the development, operation, and exploration of its copper project (the Project) at its Pumpkin Hollow Property (the Property) in Western Nevada, United States of America. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is undergoing a restart of operations, and a large-scale open pit PFS stage project. The Property is located in northwestern Nevada and consists of approximately 24,300 acres of contiguous mineral rights including approximately 10,800 acres of owned private land and leased patented claims. Pumpkin Hollow is located approximately 8 miles southeast of the small town of Yerington, Nevada in Lyon County, one- and one-half hours drive southeast of Reno. The Company’s wholly owned subsidiary is Nevada Copper, Inc.


GREY:NEVDQ - Post by User

Comment by RockDoc1on Nov 14, 2021 1:34pm
165 Views
Post# 34124850

RE:NGU = could you look at your calculations

RE:NGU = could you look at your calculations The assumptions are not realistic.  We don't get paid for metal in the ground.  We get paid a net smelter return after all costs, including refining.

Some problematic assumptions:
  • Orebody Grade.  The orebody grade is not 2%.  The grade of the mining reserve is 1.85%.  Including the current resource estimate, the grade is 1.59%.  This is a 10% to 25% reduction in revenue.
  • Concentrator Recovery.  The concentator recovery is currently 85%, not 90%.  This is a 5% reduction in revenue.
  • Waste Dilution in Mining.  Waste dilution is hard to estimate.  Most open stope mines, waste dilution is 10% to 20%.  Assume 15% dilution with low grade in the waste.  This is a 10% to 15% reduction in revenue.
  • Cost.  Revenue of $2/lb over all in cost has no basis.  The mining/millling/GA cost is between $43 and $53 per ton from the feasibility study.  This is very optimistic.  We will need a few years of data before we know the real all in cost.
  • Smelter Cost.  There are transportation costs, refining and smelter costs, smelter recovery, and smelter penalties.  This could easily be a 10% to 15% reduction in revenue.
This all results reduces the NotGNU revenue estimate in the order of 35% to 60%, not including the currently unknown mining cost.

RockDoc

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