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VP Ex interviewed by Al Korelin on Industry Watch.
Good vid, talks about Idaho having district potential among other things.
Watch Here
Canasil CEO Bahman Yamini Video: Bahman gets grilled by newsletter writer Roger Wiegand, and Financial Analyst Kevin Hudak. Good vid!
XRA Chair Yale Simpson Video: He explains the latest news release and what it means for Exeter going forward
SQI CEO & President Randy Turner on Industry Watch with Peter Grandich and Al Korelin.
Just posted this over on the TSX board but thought it was worth posting here. Good vid imo.
SQI Pres. & CEO on Industry Watch with Peter Grandich and Al Korelin. Great Vid imo.
Sorry I can't PM.
The video basically outlines the Esker property and goes in depth into the area and where they plan on stepping out and doing further drilling.
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EXETER COMPLETES POSITIVE PREFEASIBILITY STUDY FOR ITS CASPICHE OXIDE GOLD DEPOSIT
Vancouver, B.C., June 6, 2011 – Exeter Resource Corporation (NYSE-AMEX:XRA, TSX:XRC, Frankfurt:EXB – “Exeter” or the “Company”) is pleased to announce the Oxide Gold Prefeasibility Study for its Caspiche Project in northern Chile has returned a NPV(5) of US$329.5 million and net operating costs of US$524/ounce gold. Average annual production over the five year mine life would be 210,000 ounces gold and 364,000 ounces silver.
The Oxide Gold Prefeasibility Study (”PFS”), completed by Jacobs Engineering (formerly AKER Solutions), is based solely on the near surface oxide portion of the Caspiche deposit and considers that deposit as a standalone mine. The +100 metre thick oxide “blanket” will have to be removed from the very large underlying sulphide project and no residual value is attributed to the mine infrastructure and equipment that could be utilised in developing that larger project.
The combined oxide-sulfide deposit is the subject of a much larger pre-feasibility study currently underway and scheduled for release in Q4-2011.
Highlights of the Oxide Standalone PFS
? NI 43-101 compliant Proven, and Probable Mineral Reserves for the Caspiche Oxides Project total 1.35 million ounces of gold at an average grade of 0.41 grams per tonne (“g/t”) gold and 5.36 million ounces of silver at an average grade of 1.64 g/t silver contained within 101.74 million tonnes of ore. The 43-101 report does not include a further Inferred Resource of 50,000 ounces of gold and 300,000 ounces of silver at average grades of 0.26 g/t and 1.51 g/t respectively, contained within 6.21 million tonnes of ore.
? Average annual production is approximately 210,000 ounces gold and 365,000 ounces silver.
? Mine life is 5 years.
? Average cash operating costs are US$524/ounce gold, after the silver credit.
? At US$1,320/ounce gold, using a 5% discount rate, the pre-tax net present value (“NPV”), including the Anglo royalty is US$329.5 million, generating an internal rate of return (“IRR”) of 34.4%, and a payback period of 3.2 years from initial construction.
? Estimated initial capital costs are US$335.6 million. ? Processing throughput is 62,000 tonnes per day (“tpd”) of ore. ? Average gold recovery is 78%. Average silver recovery is 34%. ? Waste to ore ratio is 0.26:1 over the life of mine.
? Several opportunities to materially improve project economics, including the supply of power from the grid, were not incorporated into the PFS.
Exeter Chairman Yale Simpson states “the purpose of the Oxide PFS was to demonstrate the commercial viability of the Caspiche oxide deposit as a relatively low capital cost, low risk mine producing over 200,000 ounces gold annually. The study assumes a standalone project, quite independent of the development of the large Caspiche sulfide deposit.
“The oxide ore body leaches exceptionally well by industry standards and will be an important cash flow generator, whether it is developed independently to provide cash flow over a five year mine life, or in concert with the development of the main sulfide deposit. Our engineers advised that an increase in the size of the secondary crusher could increase mine throughput (and shorten mine life) at a relatively modest increase in the mine capex.
“On the basis of the economics set out in the PFS report, the Company can now consider mine permitting and development of the oxide project well in advance of the larger scale and more capital intensive sulfide project.”
The PFS examined three options for open pit development, each based on a Heap Leach – Adsorption Desorption Recovery (ADR) method of ore processing.
Option 1: Heap leaching of two stage crushed ore using a conventional jaw and cone crusher circuit for an 8 year project life.
Option 2: Heap leaching of two stage crushed ore using a conventional jaw and cone crusher circuit for a 5 year project life.
Option 3: Heap leaching of two stage crushed ore using a gyratory and cone crusher circuit for a 5 year project life.
Based on the PFS results Option 2 was shown to be the most beneficial to the project. This involves processing 62,000 tonnes per day ore over a five year period.
Mine Description
Mine trucks with run of mine (ROM) ore discharge in a bin ahead of a primary jaw crusher. Where required primary crushed product is further reduced in a secondary crusher circuit then transported to a truck load out bin by a belt conveyor where solid lime is added to control the cyanidation pH. The ore is then trucked to a valley heap leach.
Leaching is accomplished by a cyanide solution, using drippers for the irrigation system. Pregnant leach solution (“PLS”) is stored in a PLS pond then pumped to the ADR plant. The ADR plant considers a counter current carbon in column (CIC) circuit of five (5) columns. Loaded carbon is then transferred to the elution circuit and barren solution is returned to the barren solution pond for pad irrigation.
The loaded carbon is acid washed and desorbed. After acid washing, gold is dissolved from the loaded carbon using a strong caustic cyanide solution. The gold bearing electrolyte is sent to electrowinning where sludge is produced. This gold sludge is filtered and then smelted with bullion dore´ produced as final product.
The stripped carbon obtained from desorption is reactivated in a rotary kiln every four cycles and returned to the adsorption columns with additional fresh carbon make up as required.
Financial Analysis
The base-case is calculated at a 12 month London Bullion Market monthly average fix of US$1,320/ounce gold and US$25.80/ounce silver. The analysis indicates revenues of US$1,241 million, an NPV (5% discount rate) of US$329.5 million and an unleveraged IRR of 34.4%.
Other Key Indicators
Ore Production (000's of tonnes)
101,741
Total Material Moved (000's of tonnes) 128,026
Strip Ratio 0.26
Gold Production (000's gross ounces) 1,052
Silver Production (000's gross ounces) 1,822
The tables below outline key sensitivities for the pre-tax NPV and IRR for the Caspiche project.
Gold Price US$/ounce
Indicator $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 $1,600
IRR 9.7%
NPV @ 0% (US$millions) 109
NPV @ 5% (US$millions) 47
NPV @ 7.5% (US$millions) 21
18.0% 25.7% 33.0%
211 313 415
135 223 312
103 186 268
3.2 2.7 2.3
40.0% 46.7%
517 619
400 488
350 432
2.0 1.8
53.2%
721
576
514
1.7
Payback – (years from start- up)
3.9
Overall Gold Recovery - Percent of Baseline (78%)
INDICATOR 90% 95% 100% 105% 110%
IRR 24.8% 29.7%
34.4% 39.0% 43.5%
329 388 446
NPV @ 5% (US$millions)
213 271
CAPEX - Percent of Baseline (US$335.6 million)
INDICATOR 90% 95% 100% 105% 110%
IRR 40.4% 37.3% 34.4% 31.8% 29.4%
NPV @ 5% (US$millions) 365
347 329 312 294
OPEX - Percent of Baseline ($US 5.88/t)
INDICATOR 90% 95% 100% 105% 110%
IRR 38.6%
36.5% 34.4% 32.3% 30.2%
NPV @ 5% (US$millions) 381 355 329 304 278
Jerry Perkins, Exeter’s Vice President Development and a “qualified person” within the definition of that term in National Instrument (“NI”) 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.
EnergyGuy,
It's a very interesting video: I think there are a lot of exciting things happening up in Canada's north for precious metals.
What do you think?
DDN's CEO gives video update on the Esker property:
Mining 101: What is Chromite?
Mining 101: What is a Vein?
XG co-chair Yale Simpson explains what a vein is and how it is formed.
XG Co-Chairman Yale Simpson does educational video:
Yale Simpson defines what a vein is and how it is formed.
Site Visit Video @ PPI's Holbrook Basin
Site Visit Video @ PPI's Holbrook Basin
SAC CEO Greg Johnson gives video update at NYC conference
Mining 101 Videos!
There is a great channel on YouTube that is helping investors learn about investing in precious metals by having industry insiders define terms and clear up gray areas.
There are 6 episodes so far, and they're all quick, helpful videos.
see the links below.
Ep 6: Geophysics: http://www.youtube.com/user/mining101#p/a/u/0/_4WlCWL0F64
Ep 4: Underhand Cut and Fill: http://www.youtube.com/user/mining101#p/a/u/2/uG5_HaFq588
Ep 2: Laterite: http://www.youtube.com/user/mining101#p/u/4/IL1RnDaAG-Q
There are more obv, but these were specifically helpful to me.
Hope these help and GL investing!
RES:TSX.V Rare Element Resources has one of the largest Rare Earth Deposits in North America.
Al Korelin interviewed Director & CFO Mark Brown here: http://www.youtube.com/user/EvenKeelMedia#p/search/0/V4ZiHO4IyOo
SAC CEO Greg Johnson gave a video update from the NYC Conference, updating the Malku Khota project.
Watch here: http://www.youtube.com/user/EvenKeelMedia#p/a/u/0/R4pqVa0j7tE
Aurcana CEO Lenic Rodriguez gives video update from the NYC Hard Asset Conference.
The video is up here: http://www.youtube.com/user/EvenKeelMedia#p/u/1/QkYv47z_570
XG co-chair Yale Simpson did video update at NYC Hard Asset Conference.
Video is definitely worth a watch and can be seen here:
http://www.youtube.com/user/EvenKeelMedia#p/u/3/jx0podYBs-w