Teuchter, i notice you created your identity here at IHUB the night before your first post here, ostensibly to rebut my vague remarks from imperfect memory about Buchans.
So i recovered my Word files after a hard-drive crash and from my big file on AMY, here are some notes from others about Buchans. You've already heard some remarks from Gharma. Here follow remarks from Chris/"my69z" at Stockhouse.com v.AMY board and from Ken Reser, who consults for AMY and several other junior resource companies.
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RE: BMC CPM Group Study Reaction
my69z 1 2/21/2012 12:16:01 PM | | 91 reads | Post #30698822
Short and simple.....BMC [Buchans] is junk grade of Mn for todays processess and high iron [an impurity] which means they won't be able to go into the highest end of Mn metals [EMM and EMD] as easy as AMY, if at all. They also haven't gotten to at least a PEA yet. All the newcomers into Mn, that are suuuure to keep coming, are going to be a bubble because they NEED china to fail. AMY doesn't need china to fail and still spanks'em or any other "hard rock" deposit out there.
But good, it just makes eyeballs say.....who's the top dog of this industry. :)
Buchans Minerals....
my69z 2
on 5/6/2012 5:13:53 PM [private email to Value1008]
They [Buchans] say they are similar to china's size/grade......well that's junk ola. 12% Mn & 15% iron....AMY's iron is [only] around 2%. What did Kemetco just say why AMY can bypass testing phases [for EMD]: no iron [as an impurity]. Their [Buchans'] recovery rates are slightly lower & being they also have to grind, turnaround time is higher, i'm sure. They don't have [specified] any $$ costs, etc...yet....but there's certain things that they are leaving out. That alone is a [warning] sign, imo.
Buchans says they are a huge deposit....but they're half the size of china & china only has 6% the world's deposits. Buchans also grinds. Don't know their acid costs yet.
They're years behind AMY and [are] no competition [to AMY].
Their O/S is already 35m higher & they haven't even gotten to a PEA yet [AMY did their PEA way back in 2009]. More drilling, bankable feasibility study, metallurgical [study]....etc,,,,probably lookin at at least another 100M [to Buchans' fully-diluted sharecount] added by time funding years from now is done. Also, i don't see the Canadian financing stepping in… [whereas] they already had with AMY before the point of where BUC is at.
Just a few things after brainstorming. The import taxes are only from overseas, but even then....my bet is in the end, their [Buchans'] costs will still come in higher than China's costs.
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"Based on the bench scale test program results and with the use of many conventional unit operations in the design of the process block diagram, Thibault & Associates have established ore grinding requirements, estimated reagent consumption levels, developed block diagrams, established theoretical energy requirements and..."
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Don't forget.....for all things before AMY moves to making metals, she's self-sufficent on power & makes a [sellable] byproduct [anhydrous sodium sulphate] from what would usually be waste. :)
Speaking of that.....BUC hasn't said "we can reclamate as we mine & we will be a ZLD [zero liquid discharge] facility."
Brainstormin......don't really follow BUC other than a few quick reads that for me, said enough.
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HERE's the excerpt from Ken Reser in his interview with George Mack of The Gold Report published 3/16/11:
KR: I’ve spoken with the management of Wildcat Silver Corp. (TSX.V:WS) and Buchans Minerals Corporation (TSX.V:BMC), and I think they both have very robust projects. Wildcat Silver, for example, has about 120 million ounces (Moz.) of silver and its deposit contains zinc, as well as a manganese grade of 7%–8%.
[...] Both companies’ deposits [Wildcat's and Buchans'] appear very large. I suspect its [Buchans'] costs will be quite a bit higher than American Manganese’s Artillery Peak project, as it has multiple grinding and milling and separation processes that will require roasting and use of chemicals because they are not oxide ores and do contain byproduct minerals.
TGR: American Manganese is up 196% over the past three months. Wildcat Silver is up 130% and Buchans is up 31% over the same period. Is there still upside on these?
KR: Oh, I believe so. These companies have a long way to go, but American Manganese has already identified approximately 15 billion pounds of EMM with a lot more drill work yet to be done
[UPDATE NOTE from Timothy/Value1008: AMY's drill program for 2011, mainly in-fill drilling, was successfully completed, moving huge amount of resource over from inferred to indicated category. So now their resource states nearly 14B lbs indicated Mn, over 3B lbs inferred, with a more extensive drilling program scheduled for 2012 in other areas of the 100%-owned Artillery Peak property.].
Buchans Minerals is in the early stages of its discovery work. Wildcat Silver is primarily a silver deposit [and its manganese ore will be in simple form, they’re not talking of producing EMM or EMD], and it just closed a $13 million private placement with Silver Wheaton Corp. (TSX:SLW; NYSE:SLW) that gives SLW first refusal on any rights Wildcat might want to sell from its Hermosa property in Arizona [formerly known as the Hardshell property]. Wildcat is primarily a silver play with a potential carbonate manganese byproduct.
TGR: Among these three companies, does one have any greater advantage over the others?
KR: Well, I would say yes. I’ve been consulting for American Manganese for some time now and I know what its project entails. It’s much more advanced and it’s open pit. The ore is amenable to sulfurous acid leaching and doesn’t require the multiple grinding and crushing circuits, the roasting of ore or hazardous chemicals, therefore, it has benign tailings. So, you could say that it’s a very environmentally friendly process. AMY’s putting up a pilot mill this spring [2011] to bulk test the process [successfully completed by early 2012]. Also, it has a lot more drilling to do because it appears the company’s 15B lb. EMM resource can be greatly expanded. The company has recently contracted with Wardrop to complete an NI 43-101 prefeasibility study.
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