Pilbara Gold discovery
- Thread starter Jaros
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Jaros said:
I wish i was a driller
or related to wun.
the stockbrokers were probably buying before the news was released.
hopefully it turns out to be a 3050 grams per tonne assay
Goldchaser1
dave
Hope they prove it up jaros but that report says the superpits produced 16 million ozs,its actually produced over 20 million for KCGM and the golden mile since it was discovered is estimated at 60 million ozs all up,nice patch hey!!!
Be cautious - the media release does not appear supported by the results in its last ASX release two days ago, which would worry me. Very low grade. Widths are good (for the Pilbara, as they say, but not "best ever" by any means Australia-wide). The Pilbara rarely gets good widths. Interesting but not enough for me to rush the shares! But I wish them luck.Intersections from report two days ago:
compare that with Fosterville's latest report in Victoria (not as wide but a hell of a lot higher grade - and grade is king, not width). Fosterville produced ONE MILLION OUNCES last year, around 600,000 oz annually in preceding years.
compare that with Fosterville's latest report in Victoria (not as wide but a hell of a lot higher grade - and grade is king, not width). Fosterville produced ONE MILLION OUNCES last year, around 600,000 oz annually in preceding years.
Goldchaser1
dave
goldierocks said:
That was jaw dropping for a minute until i had a look,1 million ozs in a year.
Awsome grades but ya nos are way off....
What numbers are way off? I wish people would state clearly what they disagree with.
Ok it only produced 974, 615 oz in 2019 not one million ounces (hardly way off). And your own figures confirm 620,000 oz in 2018 not 600,000 as I said, but lower before (it has only been ramping up production for a few years). I don't think it is relevant to the point I was making (perhaps look at the reserves).
Ok it only produced 974, 615 oz in 2019 not one million ounces (hardly way off). And your own figures confirm 620,000 oz in 2018 not 600,000 as I said, but lower before (it has only been ramping up production for a few years). I don't think it is relevant to the point I was making (perhaps look at the reserves).
Goldchaser1
dave
I stand corrected but still a bit confusing as they state 620 odd and 974,i thought the latest figures (2019) would be june,financial end of year.Not there yet....
974,000 is huge,this has to put them very near the top of the tree in australia.....
974,000 is huge,this has to put them very near the top of the tree in australia.....
In terms of grade, the richest in the world first quarter of last year. Calendar year as stated - companies commonly report quarterly so the method of accrual is not critical (so long as it is stated). Often production results for a period vary a bit for a while since there can be clean-up from various parts of the plant (but I am surprised at your figure).Goldchaser1 said:
The Super Pit in Kalgoorlie produces about 850,000 oz per year, but its production grade is still higher than the Pilbara drill grade appears to be (and the two are very different things because of mining dilution etc).
But my point was - grade beats width, as there is more profit for each tonne extracted, and less cost per ounce of production (Fosterville is very low cost per ounce - which means high profit). The Pilbara one may well be a mine one day, but commonly things with intersections like that are a bit low grade, and if mined are done so picking out the higher-grade pods rather than mining all the mineralised tonnage.
My other point was that saying something is the biggest in the Pilbara (not Australia) is not saying much - the Pilbara has been very disappointing for gold. However this does suggest that potential may exist.
I felt the headline "Gold discovery, potentially the largest ever, may herald new era in north-west WA" was a bit misleading - not potentially the largest ever in the world, or in Australia, but in the Pilbara (which produces little gold).
Goldchaser1 said:
The mineowner, Kirkland Lake Gold is Canadian, so their financial year would be 1-Jan to 31-Dec. How this affects locally-reported numbers, I don't know. https://klgold.com/
Goldchaser1
dave
Oh yeah goldierocks goid gold - less dirt - more profit.
That is amazing stuff those figures at forrestville,ill have a squizz at the reserves later....
The pit will be lucky to hit 550,000 this year mate,another 80,000 came down off the east slip in the rain a few weeks ago,most the pits closed,marginal dumps are keeping the crusher goin in between,that slips covering 750,000 ozs,they want to get it but its alot of work to sort it all out,good vibes from the new owners though,future looks good......
That is amazing stuff those figures at forrestville,ill have a squizz at the reserves later....
The pit will be lucky to hit 550,000 this year mate,another 80,000 came down off the east slip in the rain a few weeks ago,most the pits closed,marginal dumps are keeping the crusher goin in between,that slips covering 750,000 ozs,they want to get it but its alot of work to sort it all out,good vibes from the new owners though,future looks good......
Goldchaser1 said:
It's only a few years back they were doing a study on steepening the sides of the pit! I guess that idea has been scrapped now. :awful:
Goldchaser1
dave
grubstake said:
Yep correct grubstake and the did steepin them to retrieve more dirt,the failings are higher up mainly,those walls are getting old,bit of weathering over 20 yrs is effecting it i think,goldirocks probably could explain it better but yep walls were made a bit steeper 3-4 yrs ago if i remember.
Probably 10 of us were back in the pit last night for the 1st time in 3 weeks,i didnt do alot,i fell asleep in the dozer for 3 hours. lol
goldierocks said:
Underground? At KCGM? Only at Mt Charlotte to my knowledge and that hasn't produced much for a long, long while. Back in the 1990's the annual mass blast coincided with a seismic event that pretty much put the kibosh on further expansion there and the later Sam Pierce Decline was a costly exercise but didn't make any huge impact on production or costs.
http://www.superpit.com.au/about/underground-mining/
Goldchaser1
dave
goldierocks said:
Goldie we had a large oxide slip up high on the west 3+ yrs ago,that kept us off the west side for a while,we carried on,then the east slip last year,so the west slipped settled and was stabilized so weve started unstacking that area 12 plus months ago,the east slip didnt effect the underground operations.
Plans are get the previous exclusion zones unstacked then finish the bottom off,its a struggle,only another 2 benches to go at the bottom i think,about the 700 level.
Then the new owners i gather will punch north or sth roughly with new cutbacks and well start backfilling the main hole with waste.
Grubstakes correct on the underground ops it pokes along ok but is not a large concern,northern star may ramp it up im thinking......
No, the discussion was about Fosterville not Kalgoorlie. Possibly grubstake after talking about Fosterville switched to the Big Pit in the next sentence without saying so. It makes more sense in terms of the collapse.grubstake said:
