RE:RE:RE:Tudor ShareholderJust to add to point 2) on metallurgy. For comparison, I was able to find the KSM tables; actually, we should call it SM, since Kerr and Iron Cap are now set for later development. Anyway, you can find the metallurgical tables in section 13.6 of the KSM 2022 PFS. Get out your scientific calculators since it is quite complicated, and varies substantially with the section they are mining. Let's pray that Goldstorm is not this complicated.
Probably an easier place to guestimate the gold recovery numbers can be found in Table 17.2 on page 298. The recovery is broken down by year. You only need to add two numbers: the copper gold recovery; plus the gold silver dore recovery. There is no aggregate number, but it appears to range between about 70% and 80% for gold.
The main point of the comparison is this. Goldstorm looks to have substantially higher grades than KSM, possibly as good or better recoveries, and unlikely to require the massive costs of a 22 km set of tunnels. If KSM can manage to be profitable with these issues, my guess is Goldstorm will present a much better NPV.
Again, do your own due dilligence folks.
rockport1 wrote: I can alleviate your concerns on both 1) and 2).
1) Grades at Goldstorm are pretty good, and they are still drilling/defining the higher grade sections. Currently the Indicated Resource is a combined
1.13 g/t AuEq (or 0.91 g/t Au + 0.15% Cu). If they raise the cutoff grades from 0.5/0.7 g/t AuEq (pit/Undg) to 1.0 g/t AuEq, the grade is
1.48 g/t AuEq (or 1.2 g/t Au + 0.19% Cu), and they still have over 15 million AuEq indicated ounces. These numbers are likely to improve with this year's drilling as Tudor focuses on the higher grade. Remember, the above grades have all been capped at 8-9 g/t AuEq; more tightly spaced drilling will allow them to remove some of the caps.
You can compare that to our KSM neighbors. Their production plan calls for combined M&I grades of
0.35 g/t Au + 0.45 % Cu. So obviously, Goldstorm grades are superior to KSM grades, and yet Seabridge has been moving forward with mine development. Even Victoria Gold is now producing with their Dublin Gulch Mine at
0.63 g/t Au.
2) Not sure why metallurgy is brought up; just a red herring in my opinion. Early metallurgical recoveries are pretty good, particularly for the CS600: gold at 90%, copper and silver at 80% with a combination of flotation, POX and leaching. Yes, the POX will add costs, but overall looks reasonable. We will know more as the testing continues. Remember that they will be able to optimize as they test further, and can even raise the cutoff grades for optimal results.
Don't forget that KSM recoveries look to be in the mid 70% range. You have to dig hard and do some math to determine exactly what they are, because they seem to have stopped publishing a nice clean number. I assume their metallurgy is not straightforward, but they have developed a way forward in their development plan. Expect Tudor to do the same, especially since Tudor has higher grades to work with, and without a 22 km tunnel to add capital costs.
Larry60 wrote: Listen, mkt not happy with TUD for a number of reasons including massive overhang of anticipated financings as TUD must fund 100% of costs until a production decision is made. Theyve been spending around $25M on exploration/development a year and that will likely be much higher over the next few years. TUDs cash position is effectively 0 right now (maybe a few million)
Good news is you can avoid this dilution trap by taking a free ride with TUO or AMK!!!!
I think TC will eventually come to fruitiion. But many are concerned about 2 things: 1) Low grade - i think KK is makin some progress on this although its always gonna be a low grade deposit, and 2) Metallurgy - no economic processing demonstrated to date. Thats a fact. Its in the 43-101. BUT they think they can come up with something - we need them to PROVE it this year. Talk is cheap
Im still very long TUO with some AMK on the side and Some TUD salt for old time sake
Shadow10 wrote: Tudor has had to be one of my most disappointing stocks i have. I'm just venting here
Tudor one year ago. $1.58 - now .76
Skenna $8.87 - $6.94.
Artemis. $4.72. - $9.98
I want to hold onto Tudor, but its not making it easy. I dumped Skenna quiet a while ago as i think it's not worth holding onto and am a bit worried with their open pit and if they have a leak with their tailings pond and it leeches into the river system witch runs into the Stikine river .
So tell me what i am missing about Tudor .