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Gold/Mining/Energy : Royal Oak-RYO

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To: Michael Bidder who wrote (967)	5/11/1998 2:17:00 PM
From: Bill Jackson	Read Replies (1) of 1706

Michael, Normally the balls are made from a fairly tough alloy and are quite resistant to damage. They do wear slowly and eventually exit via the interstage screens and are grabbed by magnets set up for that purpose. Autogenous(self grinding) mills use the impact of bigger rocks on smaller rocks and hence have less use of steel balls/rods in certain stages. Measuring the grinding efficiency must have been thoroughly done some time ago, before they finalize the equipment selection for the mill. I do not know how mount todd did their prior work before building the mill, but if they did not fully test the rock a priori they were dumb and dumber IMO. I suspect the assorted lenders for RYO had reports from consultants about the rock grinding index/equipment selection etc and all is well on that front. I am also curious about how this recent court application will advance the arbitration winner ahead of others? Apparently there is a $10M cap, so they will get a pro rata settlement that will consume $10M among the lot. I expect that operator will wait a while for more business in that area? Bill

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