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Yes Anonymous they have recieved sign-off on the geotechnical/ structural stability of the Bedard dyke.
Awaiting final mining permit. Status, any day. More low-profile equipment has arrived in Sudbury and should be @ Lamaque very soon. Can't wait till they start adding those tpd from BD. October should be good................I hope
It's important for us to remember that when we move, we move BIG. Last year our big move from .19 to .40 occurred in 6 weeks between mid Nov to Jan 1st. I could easily see the same type of move this year.
Thanks for the update. It`s a positive development. It represents good timing also. As I have mentioned in the past, my expectation for long-hole stope mining of the Bedard Dyke has been strictly linked to the crown pillar/geotechnical study. I have been using the 150 day guideline from the issuance of the Lamaque Exploration permit. That first permit was granted around early May 2010. As such, 150 days would bring us to end of September.
I think the company might have thought they had a chance to get it earlier though. Regardless, I don`t think an earlier delivery of the permit would have helped us much due to competitive we experience in securing contractors to build the Bedard Dyke. We now have the contractors and hopefully we will soon have the long-hole permit to begin actual long-hole mining. The May Lamaque exploration permit is the one that allowed us to initiate development of the Bedard Dyke (that`s how we were able to work on development over the past couple of months).
Anyway, getting the permit by the end of September is reasonable. Hopefully development will be ready for some point in October. Where we got hit with the delay (with regards to tpd) is with the bulk samples. That probably had/has little to do with the long-hole permit (the first permit allowed for bulk samples to be taken). It likely had/has more to do with the delay in not having the contractor in place and thus the subsequent delay in reaching the bulk samples in the mineralized zone.
Anyway, things are starting to take shape.
As an fyi, although nothing is ever guaranteed, at least the Lamaque mine has had a long history of both positive geotechnical studies and also actual underground mining with similar host rocks. Here is what the January 2009 bankable independent study had to say:
``PRL considers that although specific geotechnical studies need to be done to support the design, a number of geotechnical studies have been completed in the past to investigate the impact that mining has had on the stability of the process plant and other surface facilities. These have confirmed that no surface subsidence has occurred and that modest sized pillars to date have been sufficient to ensure stability. As a result PRL considers that the initial mining of the Bedard Dyke would be considered as low geotechnical risk but that strict monitoring will be required. Century’s re-evaluation of the LHOS method will permit mined stopes to be filled with development waste thereby reducing geotechnical risks and reducing waste transport requirements.``
I think they were anticipating that the additional low-profile equipment would arrive in Q3. It`s still Q3. Good to hear they are making some progress.
I don`t know where they originated from, but it could be South Africa (if they are from the same place as some of the previous equipment). If such is the case then most of the intense travelling is likely done. The equipment may have already gone through the Toronto airport (or the Vancouver airport). I don`t imagine that Sudbury has international flights from South Afica (if the equipment is indeed from there), even for mining purposes (but I really don`t know).
Sudbury is probably a good 3-5 hours of trucking distance from Val d`Or, depending on route and pace. Also, they have to do all that other stuff, such as unpacking, reassembling, testing, tune up/work in, etc., before they can hand them over for production use. I have no idea how long all that would take. It could be a week or it could be 3 weeks - I don`t know. Regardless, it sounds like we are at the home stretch.
Yep thats where Peter said it was coming from. By the way grades still around 3.5 to 4 which ain't bad since most of the ore is coming from the Lamaque flats. Their quite pleased with the tpd they are getting from the flats as well as its exceeding what they initially expected. Once BD kicks in then Noth Wall we should see tpd ramp up fast On a side note PB will be working 100% for Century as Tam has moved into new offices and has hired a new ir girl.
I think you gentlemen are getting excited about all the progress made and I can't help but being influenced too. Ya, looks like we are at the home stretch. Cheers!
I have been modeling 3.8 g/t as my Lamaque 2 foundation (base model) grade. As such, I am not uncomfortable with actuals potentially coming in the 3.5 g/t to 4.0 g/t range, especially for this phase in the start up and at current gold price.
1,000 tpd, 3.8 g/t, 96% recovery = 3,500 ounces
3,500 - 667 Deutsche Bank = 2,833 ounces
2,833 * C$1,291 (US$1,250) gold price = C$3,660,000 in monthly gross revenues for Lamaque
The monthly gross revenue only goes down to about C3,320,000 with a 3.5 g/t grade, conversely, it goes up to around C$3,915,000 with a 4.0 g/t grade.
We also get about C$61,000 per month when we hand over the 667 DB ounces each month.
If we are now also getting any tpd that is over and above that 1,000 level for Lamaque 2 then it adds further gross revenue to the mix. For example, even an extra 50 tpd out of Lamaque 2 would be worth an additional C$255,000 in monthly gross revenue (using 3.8 g/t grade).
Of course, we also have a good 1,700 monthly ounces (C$2,200,000 gross revenue) being generated out of Peru.
1,000 tonnes processed by the mill per day * 30 days in a typical month = 30,000 tonnes processed by the mill in a typical month (of note, 30 * 12 mths = 360 days production days, thus assumes the equivalent of 5 down/maintenance days per year)
30,000 * 3.8 grams in each tonne sent to the mill = 114,000 grams sent to the mill in a typical month
114,000 * 96% recovery rate = 109,440 grams gets recoveried by the milling operation
There are 31.1 grams (rounded) in each ounce.
109,440 grams recovered / 31.1 grams in one ounce = 3,519 ounces recovered
Oh, sorry, i'm tired i completely missed the "tpd" thought it said tonnes. Alright, i get it now, thanks for walking me through the steps. HOWEVER, i googled your ounce to gram conversion and its 28.349 grams per 1 ounce. That would give you 3,853 ounces if you use 28.4(rounded).
If I am not wrong, in precious metal 1 (troy) ounce=31.094 gm. Believe what you have is related to those std British pound and ounces for weighing of general goods
As was stated in the previous news release Bedard will start providing tonnage in October. Not sure what production increase that will give but its one more step towards goal.
Gold hit a new all time high today at 1266 .. hopefully that price can be maintained as cmm increases production.
I apologise for the 3 of the same postings.. it did not appear to be accepting the word verification.
By the wisdom of our BOD, the team comprising of the CFO,COO,VP-Geology, VP-Legal, Mine Manager, Mine Superintendent, IR Director will be made whole by the arrival of the new CEO. Timed with the arrival of the last batch of those low profile equipment, it is obvious that these men are assembled for a cause--it is time for a major push. We are at the home stretch and a big build up going forward. I do not know what other bloggers feel, but I believe those who had sold at these levels will stand to regret soon.
CAN I ASSUME WHAT PETER SAID WAS 300 TO 500 TON PER DAY(tpd)IN OCTOBER FROM BD? IF IT IS SO, I THK IT IS MUCH BETTER THAN WHAT PROD05 HAD ANTICIPATED ALL THIS WHILE.PLEASE CONFIRM IF POSSIBLE. THIS IS EXCITING
1 troy pound = 12 troy oz 1 troy oz = 31.104 grammes 20 dwt (pennyweight)= 1 troy oz 24 grains = 1 dwt 480 grains = 1 troy oz 15.432grains = 1 gramme
So there, gentlemen and Ladies, are all the figures you need to discover that you really shouldn't be selling your jewelry to anyone other than a refinery. Or yet.
So what other metals will be coming out of the mine, anyway? I don't recall having seen anything about silver, copper, or anything besides gold. Is it because the soul of our mine is pure?
Oh long suffering CMM shareholders. Your suffering souls will be soothed by all the gold. They said they will be pulling out by the 100K oz of it but I dream we still have many millions laying within.
23 comments:
It's important for us to remember that when we move, we move BIG. Last year our big move from .19 to .40 occurred in 6 weeks between mid Nov to Jan 1st. I could easily see the same type of move this year.
Hi Roxy14,
Thanks for the update. It`s a positive development. It represents good timing also. As I have mentioned in the past, my expectation for long-hole stope mining of the Bedard Dyke has been strictly linked to the crown pillar/geotechnical study. I have been using the 150 day guideline from the issuance of the Lamaque Exploration permit. That first permit was granted around early May 2010. As such, 150 days would bring us to end of September.
I think the company might have thought they had a chance to get it earlier though. Regardless, I don`t think an earlier delivery of the permit would have helped us much due to competitive we experience in securing contractors to build the Bedard Dyke. We now have the contractors and hopefully we will soon have the long-hole permit to begin actual long-hole mining. The May Lamaque exploration permit is the one that allowed us to initiate development of the Bedard Dyke (that`s how we were able to work on development over the past couple of months).
Anyway, getting the permit by the end of September is reasonable. Hopefully development will be ready for some point in October. Where we got hit with the delay (with regards to tpd) is with the bulk samples. That probably had/has little to do with the long-hole permit (the first permit allowed for bulk samples to be taken). It likely had/has more to do with the delay in not having the contractor in place and thus the subsequent delay in reaching the bulk samples in the mineralized zone.
Anyway, things are starting to take shape.
As an fyi, although nothing is ever guaranteed, at least the Lamaque mine has had a long history of both positive geotechnical studies and also actual underground mining with similar host rocks. Here is what the January 2009 bankable independent study had to say:
``PRL considers that although specific geotechnical studies need to be done to support the design, a number of geotechnical studies have been completed in the past to investigate the impact that mining has had on the stability of the process plant and other surface facilities. These have confirmed that no surface subsidence has occurred and that modest sized pillars to date have been sufficient to ensure stability. As a result PRL considers that the initial mining of the Bedard Dyke would be considered as low geotechnical risk but that strict monitoring will be required. Century’s re-evaluation of the LHOS method will permit mined stopes to be filled with development waste thereby reducing geotechnical risks and reducing waste transport requirements.``
I think they were anticipating that the additional low-profile equipment would arrive in Q3. It`s still Q3. Good to hear they are making some progress.
I don`t know where they originated from, but it could be South Africa (if they are from the same place as some of the previous equipment). If such is the case then most of the intense travelling is likely done. The equipment may have already gone through the Toronto airport (or the Vancouver airport). I don`t imagine that Sudbury has international flights from South Afica (if the equipment is indeed from there), even for mining purposes (but I really don`t know).
Sudbury is probably a good 3-5 hours of trucking distance from Val d`Or, depending on route and pace. Also, they have to do all that other stuff, such as unpacking, reassembling, testing, tune up/work in, etc., before they can hand them over for production use. I have no idea how long all that would take. It could be a week or it could be 3 weeks - I don`t know. Regardless, it sounds like we are at the home stretch.
Yep thats where Peter said it was coming from.
By the way grades still around 3.5
to 4 which ain't bad since most of the ore is coming from the Lamaque flats. Their quite pleased with the tpd they are getting from the flats as well as its exceeding what they initially expected.
Once BD kicks in then Noth Wall
we should see tpd ramp up fast
On a side note PB will be working
100% for Century as Tam has moved
into new offices and has hired a new ir girl.
I think you gentlemen are getting excited about all the progress made and I can't help but being influenced too. Ya, looks like we are at the home stretch. Cheers!
I have been modeling 3.8 g/t as my Lamaque 2 foundation (base model) grade. As such, I am not uncomfortable with actuals potentially coming in the 3.5 g/t to 4.0 g/t range, especially for this phase in the start up and at current gold price.
1,000 tpd, 3.8 g/t, 96% recovery = 3,500 ounces
3,500 - 667 Deutsche Bank = 2,833 ounces
2,833 * C$1,291 (US$1,250) gold price = C$3,660,000 in monthly gross revenues for Lamaque
The monthly gross revenue only goes down to about C3,320,000 with a 3.5 g/t grade, conversely, it goes up to around C$3,915,000 with a 4.0 g/t grade.
We also get about C$61,000 per month when we hand over the 667 DB ounces each month.
If we are now also getting any tpd that is over and above that 1,000 level for Lamaque 2 then it adds further gross revenue to the mix. For example, even an extra 50 tpd out of Lamaque 2 would be worth an additional C$255,000 in monthly gross revenue (using 3.8 g/t grade).
Of course, we also have a good 1,700 monthly ounces (C$2,200,000 gross revenue) being generated out of Peru.
Sorry, i'm still learning, but doesn't
1,000 tpd, 3.8 g/t, 96% recovery = 3,648* ounces?
1,000*3.8 = 3,800*.96 = 3,648?
Unless you used 3,500 for simplification purposes, if not, can you please explain how you did that calculation? Thanks!
No problem.
1,000 tonnes processed by the mill per day * 30 days in a typical month = 30,000 tonnes processed by the mill in a typical month (of note, 30 * 12 mths = 360 days production days, thus assumes the equivalent of 5 down/maintenance days per year)
30,000 * 3.8 grams in each tonne sent to the mill = 114,000 grams sent to the mill in a typical month
114,000 * 96% recovery rate = 109,440 grams gets recoveried by the milling operation
There are 31.1 grams (rounded) in each ounce.
109,440 grams recovered / 31.1 grams in one ounce = 3,519 ounces recovered
Oh, sorry, i'm tired i completely missed the "tpd" thought it said tonnes. Alright, i get it now, thanks for walking me through the steps. HOWEVER, i googled your ounce to gram conversion and its 28.349 grams per 1 ounce. That would give you 3,853 ounces if you use 28.4(rounded).
http://www.google.ca/#hl=en&source=hp&q=how+many+grams+in+an+ounce&aq=f&aqi=g10&aql=&oq=&gs_rfai=&fp=ba17ffa4794fdb44
wondering how to post links.
Gold (and other precious metals) is priced in troy ounce.
1 troy ounce = 31.1 grams
1 avoirdupois ounce = 28.35 grams
Everyday items are typically weighed using the avoirdupois system. For example, your scale at home likely uses the avoirdupois weight system.
The troy weight system is very different. Troy weight is heavier - about 10% or more.
If I am not wrong, in precious metal 1 (troy) ounce=31.094 gm. Believe what you have is related to those std British pound and ounces for weighing of general goods
Thx Roxy for the update !!
This is very good news.
As was stated in the previous news release Bedard will start providing tonnage in October. Not sure what production increase that will give but its one more step towards goal.
Gold hit a new all time high today at 1266 .. hopefully that price can be maintained as cmm increases production.
I apologise for the 3 of the same postings.. it did not appear to be accepting the word verification.
Mike
By the wisdom of our BOD, the team comprising of the CFO,COO,VP-Geology, VP-Legal, Mine Manager, Mine Superintendent, IR Director will be made whole by the arrival of the new CEO.
Timed with the arrival of the last batch of those low profile equipment, it is obvious that these men are assembled for a cause--it is time for a major push. We are at the home stretch and a big build up going forward.
I do not know what other bloggers feel, but I believe those who had sold at these levels will stand to regret soon.
No problem anonymous. I believe
Peter mentioned 300 to 500 tons
from BD.
Wow. Scotia Capital is on a massive buying spree today.
Thanks a lot production, never knew they used troy ounces for precious metals. Now i can follow your calculations properly lol
Roxy14
CAN I ASSUME WHAT PETER SAID WAS 300 TO 500 TON PER DAY(tpd)IN OCTOBER FROM BD? IF IT IS SO, I THK IT IS MUCH BETTER THAN WHAT PROD05 HAD ANTICIPATED ALL THIS WHILE.PLEASE CONFIRM IF POSSIBLE. THIS IS EXCITING
phontivRoxy14
U said more low profile equipment arrived. Is it the last lot? or are there more to come?
er, you could be wrong....
>>>If I am not wrong, in precious metal 1 (troy) ounce=31.094 gm.<<<
I believe the engineers use 31.1034768 grams per troy ounce.
http://www.google.com/search?q=convert++troy+ounces+to+grams&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
Ok, will use 1 troy oiz = 31.1034768gm. tks
1 troy pound = 12 troy oz
1 troy oz = 31.104 grammes
20 dwt (pennyweight)= 1 troy oz
24 grains = 1 dwt
480 grains = 1 troy oz
15.432grains = 1 gramme
So there, gentlemen and Ladies, are all the figures you need to discover that you really shouldn't be selling your jewelry to anyone other than a refinery. Or yet.
So what other metals will be coming out of the mine, anyway? I don't recall having seen anything about silver, copper, or anything besides gold. Is it because the soul of our mine is pure?
Oh long suffering CMM shareholders. Your suffering souls will be soothed by all the gold. They said they will be pulling out by the 100K oz of it but I dream we still have many millions laying within.
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