Aston Bay Holdings Ltd V.BAY

Resources Required for a Surface Only Mine - Thoughts?

[schocor]

ANybody have any thoughts on how much ore resources might be required to greenlight a surface mine ONLY at storm? I believe they have 17m tonnes now. 

Appreciate any insight yuo guys have as I get started modelling this myself. Key considerations are pit depth (<150m I believe), distance of running ROM to the mill (10km???) and of course what type of procesing they might use (or NOT use - lol). 

Thanks

[comet52]

AW1 has to find enough ore - sorry I can't help you with the figures/estimates on that, I'm not a geo or a mining exec - then they have to produce the docs/reports delineating everything and get permitted, which can take years.  Then they have to finance it and that financing is Multiples of the financing it takes to do the exploring.    So to be blunt, I don't think

[schocor]

Yup. You see this the same way as me. 

[RayJay67]

While establishing a deep sec deposit would certainly be the cherry on top here. One cannot overlook the low cost DSO opportunities here! First I'll drop this off https://astonbayholdings.com/site/assets/files/1534/abh-nr_2022-04-11_storm_dso_and_proposed_program_final.pdf

[RayJay67]

Then I'll drop this one here! if we can prove out a total up to date resource with this year's exploration of 500,000 tons of copper with a value of 15k a-ton CAN (currently around 13k)   Which equates to $7.5b. Sand fire is doing this with a 30% pure copper operation and we are at, from memory was at 53% copper, it would certainly seem very plausible and copper could very well go

[comet52]

Yes it could be a decent deposit, especially if the deep stuff is there.  But it's in the arctic circle.  Sandfire can mine year round at it's locations so lower grades can be economical.   A copper mine on the tundra that only operates 1/3 of the time is a different prospect altogether so the deposit frankly has to be not just good but great.  Again, JMO, YMMV

[Ivorygull]

Fact Check Baffinland Iron Mines works 12 months of the year and is in the same area as Storm, so you are making the wrong assumption.

[Fishercat1]

Could add Polaris and a few more but  bah why bother . Long Bay . 

[RayJay67]

American west can also mine year round and stockpile and start shipping come spring, as was mentioned by either Dave or Thomas! Looked but can't find the NR saying it. Thinking it is probably in one of their videos. Sand fire also needs to truck or rail their product 900kms to Perth. The Polaris mine which is further North also mined year round. Food for thought! 

[comet52]

Polaris was an underground mind which makes sense.  I would like to know how it works, mining an open pit in -40 temps in the dark all the time.   Just keeping the equipment running seems like a huge challenge.

[Ivorygull]

As I said, Baffinland Iron Mines does it. They aren't an underground mine. Look them up.