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@DanO A 2.5% increase in apparent Chinese demand put the global refined #copper market in a 50,000 mt deficit in 2016 https://goo.gl/EoUBXI
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@DanO The #zinc market was in deficit in 2016, even though demand was modest, while fundamentals remain positive and global zinc demand is expected to grow 2.5% in 2017 https://goo.gl/4UmFhS
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@TheGalvanizer Even modest growth of say 1.5% would equate to a new Lisheen needed annually (ill take 2.5% though)
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@Brandon That's the thing for mining - the assets are depreciating so you don't need demand growth to create supply shortages if you aren't replacing closing mines.
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@TheGalvanizer I would add that I think the table of new mine additions coming on (the sub 50ktpa variety) in say the attached RBC zinc report http://cdn.ceo.ca/1cd32pt-RBC%20Zinc%20Market%20Outlook_30.1.17.pdf greatly overestimate the financing ability for many of the B/C properties which make up much of WoodMac's probable/possible development assets that are needed to balance the market
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@DanO The rush for #cobalt in Cobalt, Ont: Mining companies snap up land in the north http://www.cbc.ca/news/canada/sudbury/cobalt-mining-resurgence-1.4030303
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@DanO Here’s How Apple Is Doing On Conflict Minerals https://goo.gl/eIHEp0
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@DanO Trump to unveil $1 trillion infrastructure plan in 2017. Get ready for some commodities appreciation.
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@TheGalvanizer Already priced in. What isn't is the disappointment if it fails to pass his own party
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@JamesKwantes Don't know if the Republicans can be classified as his party. He threw party under the bus during the campaign, now it's their turn? #dysfunctionalfamily
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@DanO If they are good at advertising this then some commodities (some of them unrelated to infrastructure spending:) might see gains.
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@DanO @JamesKwantes Dysfunctional indeed :)
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@DanO Recent fieldwork http://cdn.ceo.ca/1cdrbd8-Dan%20ore.jpg+
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@DanO I know a few things about $mrl. Actually about their mineral exploration projects and mines. I am thinking in writing something on them. Many Albertans tried their luck down in the Kootenays. Used their petro-dollars to try to find ore deposits. I'll tell you what happened in an upcoming article.
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@DanO Asian met #coal prices skyrocket 32% overnight https://goo.gl/Q0tSGv
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@DanO Banks scramble to fix old systems as IT 'cowboys' ride into sunset http://www.reuters.com/article/us-usa-banks-cobol-idUSKBN17C0D8
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@DanO China Yuguang's 2016 refined lead, #copper output jumps 17%, 21% to historical highs https://goo.gl/gSUQhf
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@DanO Good job $idm in preparing their FS. Can't wait to read it not only because it will be a good read from a technical point of view but also because it is an interesting project that presents a set of challenges which can be overcome in a way or another. Of course that one has to make sure that the chosen method is not only (technically) doable but also economic. From the nr I see that there is a change from crushing & grinding followed by flotation + cyanidation (CIL) to cyanidation of the whole ground 'rock'/whole ore leaching WOL (i.e. eliminating the flotation step which might mean that processing might become less expensive in a way but you'd also end up treating a lot more ore + waste/gangue not only the sulfide part which translates in increased cyanide consumption). Not sure what they've planned there. Is there a gold flash flotation cell to remove the sulfides (some gold bearing) from the circuit for regrinding or roasting i.e. before CIL? Sulfides can be cyanicides (consume too much cyanide) if you're not removing them from the circuit before doing the CIL. And is the 25 micrometer fine grind good enough to expose most of the fine gold to cyanide? If the answer is yes then how much energy (costs?) is required to grind the whole rock/ore to 25 micrometers? A clue is provided in the nr as they have already mentioned the proximity to power and cheap hydropower. Lower gold recovery in the AV & JW zones could also mean that there is some refractory gold in there that necessitates treatment prior of cyanidation. Mine design. The long hole mining method is cheaper than cut 'n fill. How much would be cut & fill? What kind of fill? Cut and fill is not only selective but also applied in bad ground conditions. What would be the reasons for planning in using it? Generally speaking the rock seems to be healthy but within the ore zone could be weaker and as I have previously mentioned and was confirmed by the most recent nr (melt) water inflows could be significant at times. But manageable they say which I agree. Still I would like to see how is this fact affecting the stability of the underground stopes? Because of that you'd have them doing the more expensive cut and fill. The design of the TMF is extremely important and I am glad to see that they have good specialists helping them chose the right design. I plan in getting back in $idm after the release of the FS (de-risked). Btw if you need an analysis/due diligence of an exploration/development/mining project get in touch with me at www.miningandmoney.com (scroll down and use the Contact form). I'll also update the website in a day or two. Cheers.
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@DanO @leni published an article on Neo Lithium $nlc. Now this is what I wrote in November last year on them http://cdn.ceo.ca/1cfac3q-Neolithium.pdf
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@CriticalInvestor @DanO Just read your notes on Neo Lithium again. Looks like they have very low impurities after drilling, so those geothermal springs on a fault line next to the lake were somehow separated from the brines regarding iron and manganese sources. The pilot ponds were easily permitted in about 6 months if I'm correct, and already constructed. Shows you things can be more nuanced instead of critically flawed. $NLC
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@DanO @CriticalInvestor Your handle says critical. I do the same :) It's just that as promised I will give them time to develop the project and then I will take another snapshot to see how it goes. In a couple of months most likely. Until then no comment.
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@CriticalInvestor @DanO Of course, but stating certain things and seeing the opposite happening afterwards shows the need for taking into account different scenarios/possibilities when you can't be sure.
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@DanO @Critical I will describe it as it is.
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@CriticalInvestor Could be misleading to rule out positive options
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@robmcleod DanO late responding to your comments on the $IDM FS and metallurgy update. Economics certainly drove the decision to go from float to WOL. In areas of lower sulphide content, we weren't getting the recoveries that we wanted. Op costs are slighly higher for WOL, and capex is about the same. Better recoveries offset the the capex increase. May use a Merrill Crowe system to deal with higher sulphide content, but metallurgists are say that it may not be necessary. Mine design is based on orientation and width; the cut and fill is more of a drift and fill, minimum 4 by 4 meters in areas of a shallow dip. Narrow longhole may work during mining since ground conditions are good. Backfill will be primarily development rock temporarily stockpiled on surface, and we will quarry talus for secondary stopes since their is a deficit of development material.
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@DanO @RobMcLeod appreciate your answer. As usual professional and as complete as possible. Looking forward to reading your FS and writing on it. And investing in your co :)
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@DanO Don't fall in love with a stock. $nrn and others.
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@DanO A few notes on Margaux Resources on my home page @ www.miningandmoney.com
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@DanO I ran my Passive Solar Evaporation Ponds Lithium Production Calculator again this time by using $nlc provided data (report) of 2,000 mm/yr pan evaporation (i.e. according to a local study because they have not done one yet) and I added the elevation, brine density, final grade of 4.6%, I set the recovery at 60% and obtained 23.5 tonnes of lithium carbonate (LCE) per year from 1 ha of constructed solar evaporation pond. Which is close to their intended 25t LCE per year. For the rest you'll wait until I will make another assessment of their progress. #lithium http://www.miningandmoney.com/solar-ponds-production
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@Brandon neat calculator.
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@DanO TY @Brandon. I have to write a 'how to' use it paper (help) though as it might not be that easy for investors to play with it.
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@DanO @HRA-Coffin on $adz "Turned out the government maps and previous references were wrong. They found brecciated limestone with widespread iron staining rather than the volcanics the govt. map said to expect. All the prior operators in the region, including Kinross, focused on a specific limestone unit and if they didn't see or expect that they ignored the area. Mark said they were partially guilty of that as well." That's exactly what happens most of the times. One or two govt geos do some regional mapping i.e. a few important traverses but they cannot cover the huge swath of land that they have to map so back in the office on the map they join (draw) faraway observation points/types of rocks in order to be able to produce the map. It is obvious that the map is not that accurate and you could still make good discoveries in between their traverses. Next Kinross or a jr look at the maps and say 'no, not interested because we don't see the target horizon that could host mineralization in there on these govt maps'. This is what it takes to make a discovery: a few prospectors that don't care about those maps and go in there against what it is perceived as general wisdom, or a junior co with an inquisitive geologist that generates targets and wants to see the ground for himself. This is exactly how Newmont has discovered the Carlin Trend deposits back in the '60s - read this piece http://www.miningandmoney.com/single-post/2017/03/30/Discovery-of-the-Carlin-Deposit In this case John Livermoore had to ask his Newmont bosses to let him go on the field for a few weeks to test the ground and his ideas. The rest is history. @HRA-Coffin: prospecting you say? I am interested to see that area. I'll open a channel to discuss a few things.
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@DanO @teevee @ocotilloredux Block caving has its own share of risks and seismicity it's one of them. Newcrests' Cadia was shut after a minor 4.3 earthquake indeed. We don't know the damage if any (shouldn't be that much damage other than some equipment like conveyor belts, crushers that are being inspected for damage)) but I see that the workers were not hurt and were able to get into refuge chambers. The 1999 Northparkes, Australia airblast killed 4 workers (big chunk of roof collapsed in the void) http://www.mineaccidents.com.au/mine-accident/186/northparkes-airblast-1999 so the risks are real. This is what I wrote on block caving back in 2013 https://goo.gl/6Lt5i2 It was edited, shortened, might need to be updated but still some good info for investors. Cheers.
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@DanO 2010 bush work. Cutting a path through impenetrable very old & 4-5 m tall alders. No one was able to see the veins (overgrown) and other types of gold, silver, polymetallic mineralization in over 30 years. Hope to get the funds and a few chainsaws/ppl/geophysical eqpmnt to get back there this fall and try my hand at it with my new geological model. Not my property. Private co. http://cdn.ceo.ca/1cfql79-alder.JPG+
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@Brandon @DanO: working in that type of bush is a nightmare. Similar, but perhaps not quite as bad, is the buckbrush in Yukon. You knew it was going to be a bad day when your traverse took you below tree line and into that crap.
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@HRA-Coffin I staked in crap like that in the interior a few times - back when you actually staked things. Ridiculous. Vancouver Island almost as bad and there you really had to watch for falls since you were usually in second growth crap walking on old logs you couldn't see - until you stepped off and realized there was nothing but thin air below you. #notsofondmemories
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@TheGalvanizer Think @ocotilloredux would describe that as a tough lie
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@HRA-Coffin He's a mining engineer. They used to carry him around on a litter so his boots wouldn't get muddy. No wonder the guy needs a caddy. ;)
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@HRA-Coffin (I'm gonna get it for that one...)
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@DanO @HRA Haha
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@DanO Second that Vancouver Island thing. Got more bruises hiking 2 hrs thru that rain forest than in a month or two hiking in the interior. Step on those rotten logs and things that you cannot see being masked by vegetation and you're sinking and your ankles would be hitting god knows what. And humid like in a good old deep mine - see pic. That's sweat not rain drops http://cdn.ceo.ca/1cfs855-Vanc%20Isl.jpg+
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@Brandon Everyone seems to have their own nightmare stories of Vancouver Island. $NCX's project there is great when you're on the road or in fresh cut, but the old cut areas are pretty treacherous.
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@drilltracker @Brandon et al. I often found the transition between the tree tine and the bush the worst. 1983 at Trapper lake fly camp with young Gernot we were soil sampling compass lines that were put in over a magnetite scarn. If we ever found the lines, we had to crawl down through 5-6 feet of juniper to try to scratch out a bit of soil out of the surface (no decent B horizon). All the time also in the transition zone between black bears and grizzlies. I have to agree with @Dano, west coast salal forrest in a pick up stick array of deadfall is brutal.
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@Brandon That's generally the rule for geologists: Is the project above treeline? This is the best job in the world how do I get paid for this! Is the project below treeline? Why am I doing this I should have studied engineering!
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@CriticalInvestor I love the old growth on Vancouver Island though....as a tourist, walking just on those boardwalks and trials, no fancy geo ventures for me
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@DanO @adz I talked to Mark on Fri. I talked groundtruthing as you cannot drill blind targets w/o trying to figure out the reasons for the existence of those geophysical anomalies. He has already done that on many of his targets. Some of the targets are atypical maybe. I will talk to them again at MIF. By then I will know more about this project as I will read a few more things. Anyway exciting times ahead for $adz.
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@DanO Global Mining Observer: The 1990s http://mailchi.mp/6ae366aeda37/special-edition-the-1990s?e=7dfc9f567b
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@DanO Can ‘Make in India’ become the driving force for commodities? https://goo.gl/VxxBMZ
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@DanO @stargate2 On $nrn. I have never bought they hype. It was an if. A big IF. When I finally had some time on my hands I had a look at their projects and BEFORE $nrn releasing their drill results (at top of the craziness) I published this https://goo.gl/NwjQxF As you can see my geophysicist friend I do not believe in Idefix (i.e. developing a mine there). A few better intersections maybe. But you recommend it. Good luck with it.
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