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  1. #16

    Oct 2016
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    76 times
    Quote Originally Posted by Mad Machinist View Post
    Like I said, I don't know where you get your information but is dead wrong. I not allowed to say what our grades are but what you posted isn't even close.
    I assume you are referring to Morenci. What you are referring to must be a high grade patch of the mine. The company has listed 500Mt at 0.5% (that is still low grade ore). At current production levels it will run out in 7 years. The rest is very low grade ore, some at 0.3% and the bulk at 0.16%. That is unprofitable to mine.

    It is public information. I am not an analyst, don't have any financial interest in seeing Freeport go bankrupt nor do I trade on the stock market for that mater. It was just an interesting subject that you started.

  2. #17
    Charter Member
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    Period Six Mining and Exploration, LLC

    Aug 2010
    Southeast Arizona
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    Actually .16% ore is perfectly profitable to mine for a run of mine heap leach set up. This is the exact same process Barrick and Newmont use on the Carlin Trend to mine gold at .2 grams per ton. Yes that's two tenths of a gram per ton.
    KevinInColorado and cyzak like this.
    Mining is how I make my living. I turn mountains into dust on a daily basis.

  3. #18

    Oct 2016
    157
    76 times
    Nowhere in the world is 0.16% profitable to mine, not even with ROM. That 0.2 gram gold is more money per ton than 0.16% copper.

    Carlin Trend has very favorable geology, that is why it is mining lower grades at a negligible profit. Most of the profit comes from higher grade areas. The money they make of these low grades might be negligible but it is still profit. When it gets reported that they mined low grade it gives the wrong impression of the actual profitability. Not all mines at the Carlin Trend are the same.

    And when you mention them, Barrick and Newmont are losing money or struggling to break even. That might slightly improve now that the gold price has risen recently.
    Last edited by Moesia; Aug 27, 2019 at 02:43 PM.

  4. #19
    Charter Member
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    Period Six Mining and Exploration, LLC

    Aug 2010
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    Quote Originally Posted by Moesia View Post
    Nowhere in the world is 0.16% profitable to mine, not even with ROM. That 0.2 gram gold is more money per ton than 0.16% copper.

    Carlin Trend has very favorable geology, that is why it is mining lower grades at a negligible profit. Most of the profit comes from higher grade areas. The money they make of these low grades might be negligible but it is still profit. When it gets reported that they mined low grade it gives the wrong impression of the actual profitability. Not all mines at the Carlin Trend are the same.

    And when you mention them, Barrick and Newmont are losing money or struggling to break even. That might slightly improve now that the gold price has risen recently.
    When I sit down for our meeting like I do every Friday, I'll pass this along so we can all have a good laugh.

    Those who say it can't be done really shouldn't interrupt those of us who are doing it.
    Goldwasher and mytimetoshine like this.
    Mining is how I make my living. I turn mountains into dust on a daily basis.

  5. #20

    Oct 2016
    157
    76 times
    Ok.

  6. #21
    us
    Jun 2013
    El Dorado County
    ROCKING GOLD GRABBER MINI- BGT PROSPECTOR- ANGUS MACKIRK EXPLORER- MILLER TABLE, MULTIPLE SUCKER TUBES, VARIOUS HAND TOOLS, PANS AND CLASSIFERS, FORS GOLD PLUS, MINELAB PRO 25 PINPOINTER- DIY ROD MILL
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    Quote Originally Posted by Mad Machinist View Post
    Those who say it can't be done really shouldn't interrupt those of us who are doing it.
    So much this!
    Quote Originally Posted by GoldDoozah View Post
    The fact that homo sapiens teach genetically engineered canines tricks, on the third planet of this particular star in the Milky Way, is extremely unlikely.

  7. #22
    Charter Member
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    Period Six Mining and Exploration, LLC

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    Quote Originally Posted by mytimetoshine View Post
    So much this!
    I go tomorrow for aptitude testing to see exactly what I can do on Freeport's dime. They found about my degree's so now I may have to put on a suit everyday.
    mytimetoshine likes this.
    Mining is how I make my living. I turn mountains into dust on a daily basis.

  8. #23

    Feb 2006
    1,248
    1170 times
    My sympathies.
    BoydBros and Mad Machinist like this.

  9. #24
    Charter Member
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    Period Six Mining and Exploration, LLC

    Aug 2010
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    Quote Originally Posted by galenrog View Post
    My sympathies.
    Yea no doubt. The testing went extremy well. Now let's see if they'll pay enough to do it.
    Mining is how I make my living. I turn mountains into dust on a daily basis.

  10. #25
    Charter Member
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    Period Six Mining and Exploration, LLC

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    Quote Originally Posted by Moesia View Post
    Ok.
    Increased our reserves by 25 billion tons. Like I said, we'll be fine.

    https://www.e-mj.com/features/expans...o-world-class/
    arizau likes this.
    Mining is how I make my living. I turn mountains into dust on a daily basis.

  11. #26
    us
    May 2014
    AZ
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    Quote Originally Posted by Mad Machinist View Post
    Increased our reserves by 25 billion tons. Like I said, we'll be fine.

    https://www.e-mj.com/features/expans...o-world-class/
    Hopefully those reserves remain economically viable throughout the coming years....It is nice to know that the copper is in the ground but hard to predict that it can always remain profitable to mine due to unforeseen circumstances.
    Last edited by arizau; Aug 31, 2019 at 07:35 PM.
    BillA likes this.
    If it can't be grown, it must be mined!

  12. #27
    Charter Member
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    Period Six Mining and Exploration, LLC

    Aug 2010
    Southeast Arizona
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    Ok back on subject here. Rhodium just hit $4700 an ounce. And it is going to go alot higher.

    60% of the world's rhodium is supplied by South Africa and there ore grades are declining rapidly. There is not enough coming online to cover demand. Demand is set to explode since it was found out hybrid vehicles have a bigger emissions footprint than a diesel due to "cold starts".
    Mining is how I make my living. I turn mountains into dust on a daily basis.

 

 
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