The following video starts off with a few comments from Keith Barron and Quinton Hennigh who are discussing the merits of colluvial/elluvial placer deposits during the CDFund Discovery Day in Amsterdam. After that we take a look at the massive scrapings found along a 200km+ stretch.
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Novo is not re-inventing the wheel. Near surface lag gravel mining has been going on for decades or hundreds of years across the globe. This video show that it has also been done on a massive scale in Africa already.
If Novo’s preliminary AISC numbers for the Egina type gravels of A$10-$20 per m3 are somewhat correct, then anything above a grade of 0.23 g/m3 would be profitable to mine, if one uses a mean cost number of A$15/m3.
(Note: This is not investment advice and I am not a geologist. Always do your own due diligence. I own a lot of shares of Novo Resources which I have bought in the open market and am thus biased. Novo is a passive banner sponsor on my site. )
The Hedgeless Horseman
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