NEW AFTON vs AJAXNEW AFTON
Oct 10, 2023 — At December 31, 2022, New Afton's Measured and Indicated Mineral Resources included 66.5 million tonnes at average grades of 0.71% copper
New Afton Mine is owned and operated by New Gold Inc. It currently processes ~13,000 tonnes of ore each day. In 2022 the mine produced 271,373 ounces of gold,
RULE of THUMB
Underground mining can only mine 50% of actual resource.
Ajax has 568 million tonnes
https://amemining.com/projects/overview/mineral-resource-reserve/
Therefore, based on the 50% rule of thumb,
Ajax therorectically could factor - 284 million tonnes
If Afton's copper grade is 0.71% and Ajax's 0.26% grade
= Afton' is 2.73% richer Cu grade per tonne
284 million Ajaax tonnes <----- ( ug mine model 50% )
Is far greater tonnage ( than Afton ) but lessor grades
Why is Ajax and KGHM not revising their open pit and model with underground ?
- remodel to ug ground
- assay with finer grind ( liberate more minerals )
- reassay for, solution Cu, Pl, Pd in epidotite
- reassay for Moly
- expand footpring larger resource for ug
= expand larger, ug ground, reassay ramp up grade with eq minerals
Why sit and arbitrate over enviro ?
how many years... hmmm
Why not do the same as Afton, go underground ?
i like this stock... but it seems like a lottery play vs sure thing.
Politics, Enviro....
Junior + Major could do much more. I'll think about this one....
Yet... what intrigues me... Afton's recent raise ( $$$$$ ) yet, based on google maps
appears Afton does have the blue ( outlier ) sulphides which could allow
After more expansion... or, would they ever eye up....Ajax ?
How determined are... Abacus + KGHM or more like... ( worn down ) with enviro
chess game ?