LC, Marcos, Jack, Mr. Aloha, Claude , all others,
Comments wanted for my quick look. All my numbers may be wrong but if not this is interesting.Looking at the POM deposit from the proteus cap report, their website and the feas. Lot of numbers but a lot of similarity.
I was comparing #'s on POM to NG . Both very large deposits. Both have about the same grade of copper when all metal credit thrown in. Mining costs maybe more on POM?? POM MC about 380 mill FD. NG MC = 1.7 bill or 5 times. I think POM is the better value. If you count the Platinum and Palladium as a credit toward POM's gold, POM has a lot more gold than NG I think. 15 mill ounces equiv vs 7 mill for NG. POM is the better buy. MAYBE.
<Using this data, an open-pit minable resource of 808 million tonnes containing 0.432% copper, 0.109% nickel, 0.116 g/t platinum, 0.437 g/t palladium, 0.061 g/t gold, and 1.5 g/t silver >
polymetmining.com
<NorthMet has a global resource of approximately 900 million tonnes grading 0.32% copper, 0.085%
nickel, 0.006% cobalt, 0.43 grams per tonne platinum group metals, and 0.045 grams per tonne gold.>
<PolyMet has in excess of six billion pounds of copper>
proteuscapital.com
Reserves and
Resources (see
Notes below)
Measured and
Indicated (M&I)
Resources Copper equivalent
(see notes) 422.1 mmt grade (see note) 0.86%
Copper equivalent
Inferred Resources 120.6 mmt grade (see note) 0.80%
Proven and Probable Copper equivalent
Reserves 181.7 mmt grade (see note) 0.96%
<Mineral Resources Expanded: measured and indicated mineral resources have been expanded to 422.1 million tons grading 0.28% copper, 0.08% nickel and 0.01 ounces per ton (opt) of precious metals (palladium, platinum and gold), compared with 358 million tons grading 0.26% copper, 0.08% nickel, and 0.01 opt of precious metals that was previously reported. In addition, the DFS reports inferred mineral resources of 120.6 million tons grading 0.25% copper, 0.07% nickel, and 0.01 opt of precious metals. Mineral resources are not reserves and do not have demonstrated economic viability.
- Reserves Established: PolyMet has, for the first time, established proven and probable reserve. This material, contained within the measured and indicated resources, totals 181.7 million tons grading 0.31% copper, 0.09% nickel, and 0.01 opt of precious metals. These reserves, which represent only 43% of the measured and indicated resources, are based on copper at $1.25/lb, nickel at $5.60 per pound, and precious metal prices of $210, $800, and $400 per ounce respectively for palladium, platinum and gold>
<Alternatively, using the by-product method whereby revenues from other metals are offset against costs of a primary metal, the five-year average cash cost of copper would be $0.06/lb or, if NorthMet were viewed as a nickel mine, nickel costs would be minus $1.46/lb.>
<Mining
Life-of-mine average
total mining rate 81,070 tpd Processing rate 32,000 tpd
Initial mine life
(permit
application) 20 years
------------------------------------------------------------------------
Production -- annual
average in first
five years
Precious metals
Copper cathode (palladium,
(high grade) 72.057 mmlbs platinum, gold) 105,984 oz
Nickel in hydroxide 15.401 mmlbs Cobalt in hydroxide 0.727 mmlbs
------------------------------------------------------------------------
Life-of-mine
operating costs
per ton
Mining cost per ton Processing cost per
of rock mined $ 1.14 ton processed $ 6.99
General, admin. and
Mining cost per ton other, per ton
of ore mined $ 3.13 processed $ 0.66
new.stockwatch.com
<proven and probable reserves estimated at 540.7 tonnes containing 6.6 billion pounds of copper, 5.3 million ounces of gold and 92.6 million ounces of silver;
projected base case outcomes for first five years of production;
average annual production of 432 million pounds of copper, 341,000 ounces of gold and four million ounces of silver;
total cash costs of 38 U.S. cents per pound of copper, net of precious metals credits, or, in terms of gold, negative $889 (U.S.) per ounce of gold, net of copper and silver credits;
average annual after-tax net cash flows of $414 million (U.S.);
average life of mine production estimated at 23.7 million tonnes per year for 22 years, with estimated average annual production of 262 million pounds of copper, 165,000 ounces of gold and 2.7 million ounces of silver at total cash costs of 62 U.S. cents per pound of copper, net of precious metals credits, or, in terms of gold, negative $874 (U.S.) per ounce of gold, net of copper and silver credits>
<Galore Creek summary financial results
Mine life (years): 22
Ore tonnage milled (million tonnes): 522
Strip ratio (waste to ore): 1.64
Mill throughput (nominal) (tonnes per day): 65,000
Total capital cost (mine facilities plus infrastructure)(1) (millions of U.S. dollars): $1,805
Sustaining capital cost(1) (millions of U.S. dollars): $122
Unit operating costs
Mining cost per tonne mined(1) (U.S. dollars per tonne): $1.22
Milling/process cost per tonne ore(1) (U.S. dollars per tonne): $3.05
General and administrative cost per tonne ore(1): 80 U.S. cents per tonne
Total cash cost, first five years (net of precious metal credits): 38 U.S. cents per pound copper
Total cash cost, first five years (net of copper and silver credits): minus $889 (U.S.) per ounce gold
Total cash cost, life of mine (net of precious metal credits): 62 U.S. cents per pound copper
Total cash cost, life of mine (net of copper and silver credits): minus $874 (U.S.) per ounce gold
Total co-product cost, first five years (copper): 67 U.S. cents per pound copper
Total co-product cost, first five years (gold): $150 (U.S.) per ounce gold
Total co-product cost, life of mine (copper): 82 U.S. cents per pound copper>
new.stockwatch.com |
