SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: 3bar who wrote (60846)8/23/2008 6:15:50 AM
From: E. Charters  Read Replies (2) of 78419
 
Re: Hat.

If there are not too many variables to consider I would say they would pay in the negative numbers for Uranium.

Mining unconformity deposits can be expensive underground because of radon and envi regs. Open pit is more than usual. Smallish deposits like these are high in Capex over tons.

If all goes well and they find one million tons. (right now I believe they have close to 300,000 tons) they could print 100 million lbs U. Now they have nearly 80 million shares out. If they mine it, they will probably mill it at the Areva mill next door. I don't know if it is open pittable. The overburden would normally be considered fairly deep. If they removed 600 feet of rock to get at the ore, they might be as high as 65 to one stripping ratio. Sounds unrealistic, but when you consider the ore could be worth 6500 per ton at least and waste only costs perhaps 2 dollars a tonne to remove, then it isn't that bad.

If they bulk mine a small orebody like that underground then capex could be 30 bucks a tonne. Mining costs would be high, but I am not sure exactly how high. Let's say 150 dollars a tonne cash because of radon control. It is still miniscule in terms of dollars per lb. It might cost them $1.80 a lb to get the stuff out. Maybe 40 cents/lb to mill it.

I think they could get to $8 to ten a share on that orebody alone. They have scad of other good properties to look at that sound like promising hunting areas.

EC<:-}|
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News