Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

Free
Message: Liberty Provides Additional Details of Financial Transaction

Development Old Numbers reAvg Cost & Old Production Schedule

in response to by
posted on Apr 27, 2009 03:33AM

The press release refers to 1800 tpd being mined and that would be at our high grade ore. If you look back at our old technical report - it was based on 1500 tpd and that would be 300 tpd coming from Redstone. We also have at the 150m level the high grade ore which is at 3.93% Ni. Our old break even cost was $5.50 per lb of nickel (p. 8 of old Technical report).

The old Table 17-2 Life of Mine ore production schedule shows the following:

Period

Total Tonnes

Grade (N%)

Stope (tonnes)

Ore Dev(tonnes)

Q1-08

0

0

0

0

Q2-08

8,150

0.71

0

8,150

Q3-08

29,052

0.8

0

29,052

Q4-08

70,786

1.37

52,552

18,234

Q1-09

108,000

1.15

108,000

0

Q2-09

108,000

1.09

108,000

0

Q3-09

108,000

0.74

108,000

0

Q4-09

98,305

0.64

98,305

0

Q1-10

67,505

0.68

67,505

0

Total

596,797

0.930.93

541,362

55,436

Although this report has been superseded by actual results you can tell with 15,361 tonnes grading 0.51% Ni based on a bulk sample (see PR 6-09). The actual recovery was skewed downward as a result of some talcy development material being mistakenly mixed with the bulk sample. Generally disseminated material containing 0.5% to 0.6% ni was floated with an 87-88% recovery from the heaslewoodite mineralization.

So we would restart in the Q3 schedule by my guestimate.

Share
New Message
Please login to post a reply