You wouldn't find helium on the moon
Even with Earth's mass and therefore gravitation it still escapes, and the moon has a sixth of the mass..
In the same way, you wouldn't find a successful pub on Mars - no atmosphere |
Not sure about helium, b750 Lost plenty in one of those companies, as we can’t mention S.. .. ES, thought I’d mention this..
CNBC 7thJuly: The U.S Needs more of this critical metal-and China owns 80% of its supply chain.
In January, U.S-Based research firm Macro Ops Said: “The US will quickly run out of stockpiled tungsten, and flip from net seller to buyer over the next 12 to 18 months”. Perhaps we should build a second tunnel towards the tungsten porphyry ?
At least that would take our minds off the other one, that will be heading towards the high grade Sulphides. |
The known is good enough, all the rest is extra, but It will take a long time to mine all those sulphides, as only a very small percentage has been mined so far, Looking forward to that tunnel being built. |
"When the known isn't good enough to pump, they pump the unknown" - Me, just now. |
Thanks for the reply RetirementPlan, Agree, part of the excitement has always been about the sulphides, Perhaps NIU will be interested in tungsten too. |
Interims tomorrow, most likely.
Let's see what can/can't be mentioned again, will be very telling, some news will break soon enough.
Rumour mill saying, they are trying to acquire an already producing mine, if they do, instantly cash flow +ive, PXC will rocket up, PXC transforms overnight. For many reasons, plenty of opportunities out there. They are working on something, just cannot say anything YET. Plenty of headroom to issue more bonds and pick up a bargain asset, let's wait and see.
If you can't put 2+2 together, and think the BOD are staying quiet for the sake of it, investor relations choosing just not to say anything, well you are in a for a big surprise.
We were told, newsflow will start after bonds issue, then recently told in Sept! Looks like whatever the deal is going through, needs to complete. |
1. A major part of the excitement was ALWAYS about the sulphides. Not sure modern copper mining underground is quite as labour intensive as it used to be (else it would never have got so cheap! The chapter on copper in 'Material World' lucidly explains all).
2. The sulphides are not even the elephant below. That would be a Tungsten Porphyry. |
I don't understand all this excitement about the sulphide veins. They were the basis of the Empire mining operation until the mine closed in the 1940s. Since then, the economics of copper mining have changed. Now, the most efficient process is heap-leaching of oxidized ores mined from an open pit (followed by solvent extraction and electrowinning), which is economic even at grades below half a percent. The whole operation requires giant machines, and is admittedly capital-intensive. However, the key advantage is that mining does not entail sending hundreds of highly paid men tunnelling through rock to chase high-grade ore veins.
From the outset, Phoenix's plan was not to reactivate the old underground mine, but only to start a new open pit to access the oxides. The grade of the underground ore, while decent, isn't enough to compensate the uncertainty, complexity, and expense of underground mining, particularly at present US pay rates for miners. |
Hi PH:
"the total drilling cost for an 1100 foot tunnel going both in and (for safety reasons) out of the sulphides is going to around £2.5m".
Nobody has stated it, but I suspect strongly that NIU would fund this - it would transform the economics. |
From the last RNS.. Sulphide exploration planning in final stages, with a view to mining the high-grade sulphide Material.
Resources permitting we hope to commence driving the adit this winter.
How much would it cost to build an adit ? Do we know how long it would be, or how long it would take to build?
Could it be funded from the 80 million? Or would the bondholder be interested in financing this. |
I don't like to name drop, but Sir Ralph Richardson passed me in the street once |
"you forgot the dinghy has a five foot hole in it…"
Similar. It's a large rubber ring ready to save another company from drowning (probably). |
Buko, you seem to think PXC are looking to be the acquiree, and not the acquiror...
All will be revealed soon no doubt. |
Bukowski - you forgot the dinghy has a five foot hole in it… |
Majors want plus billion tonne scale. Rio'sOyo Tolgoi ore body is the size of Manhattan island. Comparing the proposed Empire open pit to something the Majors would want is like putting a rubber dinghy next to the Allure of the Sea cruise ship ? |
Absolutely - because BHP and Glencore are the only size and scale companies out there aren't they?
They have $300mln of bonds...only $80mln of which are there for Empire to get to production... maybe they went for this scale to provide them with the space for opportunistic moves? |
Oh, sorry - I misunderstood - so you think the massively cash rich Phoenix is now on the acquisition trail and the one doing the M&A, is that it? Cheeky little offer in to Glencore, BHP maybe or some such?? |
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