WKN: A0B9PR
Mundoro Mining...
haben 9 Mio Unzen Gold nachgewiesen und bereits die 1. Machbarkeitsstudie fertig. Die endgültige folgt Mitte 2006. Abbau beginnt 2007. Die Ressourcen sind noch erweiterbar. Es ist der grösste Goldfund in China bis zum jetztigen Zeitpunkt.
...Mundoro ist mit lächerlichen 50 Mio Can$ bewertet , besitzt 25 Mio$ Cash (letztes PP vor 2 Monaten zu 2,95Can$).
Das Problem: Das Abbaugebiet liegt in China und die lassen mit der Mininglizenz auf sich warten. Nach muss diese alle 2 Jahre neu beantragt werden. Nun vor 2 jahren hat sich die Behörde auch 4 Monate zeit gelassen. Der Ceo sieht absolut keinen Grund warum es keine lizenz geben soll.
Jedenfalls ist grad bissl Unsicherheit deswegen und der Kurs ist durch einen übereifrigen Analysten unter Druck geraten.
...Ich sehe in Mundoro eine Chenace auf mindestens 500%.
Mundoro will über 8 Jahre 300000 Unzen Gold abbauen...
...macht euch mal schlau. China arbeitet an der Öffnung des Mining-Sektors und einer transparenten Lizenzvergabe auch auf Druck der Grösseren ausländischen Konzerne....
Mundoro hat bisher perkekte Arbeit geleistet und immer nach Plan geliefert...
www.mundoro.com
Pre-Feasibility Study
The Company's independent consultants AMEC Americas Ltd. completed the pre-feasibility study in June of 2005, demonstrating the economic viability of developing a large-scale open-pit mine at Maoling. This resulted in a statement of Probable Reserves that is included in the table below, together with the project's remaining Indicated and Inferred Resources:
Mining operations envisaged in the PFS are from an open-pit at an initial rate of 20,000 tonnes per day expanding to 35,000 tonnes per day after the second year of production. Ore is to be processed by conventional crushing and grinding followed by leaching and carbon-in-pulp (CIP) gold extraction. The processing plant will be constructed to enable a seamless expansion of capacity after the first two production years. The PFS uses a conservative 93% metallurgical recovery rate for Zone 1 ore, producing an average of 328,000 ounces of gold per year. The initial mine-life of approximately eight years is expected to be significantly extended in the final feasibility, as more of the project's Resources are converted to Reserves.
A blend of Chinese, North American and global costs is used in the PFS for all capital equipment purchases. The procurement, construction, installation and commissioning phases for the 20,000 tonnes per day operation as described in the Study are estimated to cost a total of US$235 million (expressed in 1st quarter 2005 U.S. dollars), including a contingency of US$30.9 million. The plant expansion to 35,000 tonnes per day, together with sustaining capital, requires an additional US$77.7 million in capital expenditures.
The PFS includes a net present value (" NPV" ) analysis of the project. Cash inflows consist of annual revenue from gold sales based on a US$400 per ounce price, and cash outflows such as capital and operating costs are subtracted from the inflows to arrive at annual cash flow projections. The NPV analysis has been done on a pre-tax project basis, using un-escalated costs and priced in 1st quarter, 2005 US dollars assuming 100% debt financing:
Project Life 8 years
Overall Strip Ratio 1.36:1
Payback Period 4.2 years
Unit Operating Cost US$ 5.54 per tonne ore
Total Cash Operating Cost US$ 187 per ounce gold
Total Production Cost US$ 271 per ounce gold
IRR: Pre-tax 17.7 %
Pre-Tax NPV @ 0% US$ 244,070,000
Pre-tax NPV @ 5% US$ 133,414,000
Various trade-off and optimization studies need to be completed on the processing side as well as geotechnical, hydrological and environmental studies for the final feasibility study. The project schedule anticipates commissioning the mill late in 2007.
Significant opportunities for optimizing the project design and economics of the project for the final feasibility study include:
Operating Cost Opportunities
Further research on the cost of consumables from Chinese suppliers could lead to replacement of the global or North American rates used in the PFS with locally priced (therefore lower cost) products. Furthermore, the PFS used Q4/04 costs, a time of high global pricing for all materials, which are expected to ease in the medium term. Research into locating the tailings impoundment area downstream of the mine-site would reduce operating costs compared with the current upstream site. Further metallurgical testing to optimize reagent consumption, metallurgical recoveries and grind size could result in lower processing costs.
Capital Cost Opportunities
The replacement of higher cost capital items with lower cost Chinese equivalents can reduce the capital cost of the project. The identification of a more efficient tailings impoundment site than that envisaged in the Study can also reduce the capital costs. The peak demand for mining equipment as depicted in the PFS could be met by using Chinese contract miners thus reducing the size of the owner operated fleet required.
Reserve Expansion and Exploration Potential Opportunities
The PFS only considered the Indicated Resource in Maoling's Zone 1 area as calculated by AMEC in late 2004. In addition, Zone 1 and Zone 4 have an aggregate Inferred Resource of 183 million tonnes grading 0.9 grams gold per tonne (5.1 million ounces) using the 0.50 grams gold per tonne cut-off grade. Since these resource estimates were generated the Company has continued its drilling programs to both convert Inferred to Indicated Resource and to expand the resource base. The Zone 1 mineralized trends remain open to the south and the Zone 4 mineralized trend is open to the southeast and northwest and both zones remain open down-dip. The potential exists to add significantly to the reserve base, and therefore, to the life of the mine.
Mundoro is in the process of assembling the professional team that will undertake the final feasibility study and prepare the environmental impact assessments required for project permit applications in China.
Drilling Programs Ongoing
Concurrent with Mundoro's work to advance Maoling through development, drilling programs will continue to assess expansion potential of both Zone 1 and Zone 4 areas.
Three core drilling rigs have been in operation at Maoling since early April. Mundoro intends to continue this program concurrent with project feasibility work, with the following objectives:
* To collect structural, geotechnical, hydrological and other data for the Zone 1 feasibility study;
* To maximize the number of gold ounces for consideration by the Zone 1 feasibility study; and
* To continue expanding the gold deposits at Maoling which remain open along strike and down-dip.
Significant potential remains at Maoling to build the project's value through both a rapid progression to production and the overall expansion of its scale. Mundoro has already been successful in adding considerable value to the project and expects to continue this performance as drilling and feasibility work advance.
..die Studie bezieht sich nur auf 3 Mio Unzen , einen Goldpreis von 450 US$ und auch die Kostenseite ist sehr konservativ angesetzt...
Fazit: strong buy
www.mundoro.com/news/news.html
www.mundoro.com/maoling/maoling.html
Mundoro Mining...
haben 9 Mio Unzen Gold nachgewiesen und bereits die 1. Machbarkeitsstudie fertig. Die endgültige folgt Mitte 2006. Abbau beginnt 2007. Die Ressourcen sind noch erweiterbar. Es ist der grösste Goldfund in China bis zum jetztigen Zeitpunkt.
...Mundoro ist mit lächerlichen 50 Mio Can$ bewertet , besitzt 25 Mio$ Cash (letztes PP vor 2 Monaten zu 2,95Can$).
Das Problem: Das Abbaugebiet liegt in China und die lassen mit der Mininglizenz auf sich warten. Nach muss diese alle 2 Jahre neu beantragt werden. Nun vor 2 jahren hat sich die Behörde auch 4 Monate zeit gelassen. Der Ceo sieht absolut keinen Grund warum es keine lizenz geben soll.
Jedenfalls ist grad bissl Unsicherheit deswegen und der Kurs ist durch einen übereifrigen Analysten unter Druck geraten.
...Ich sehe in Mundoro eine Chenace auf mindestens 500%.
Mundoro will über 8 Jahre 300000 Unzen Gold abbauen...
...macht euch mal schlau. China arbeitet an der Öffnung des Mining-Sektors und einer transparenten Lizenzvergabe auch auf Druck der Grösseren ausländischen Konzerne....
Mundoro hat bisher perkekte Arbeit geleistet und immer nach Plan geliefert...
www.mundoro.com
Pre-Feasibility Study
The Company's independent consultants AMEC Americas Ltd. completed the pre-feasibility study in June of 2005, demonstrating the economic viability of developing a large-scale open-pit mine at Maoling. This resulted in a statement of Probable Reserves that is included in the table below, together with the project's remaining Indicated and Inferred Resources:
Mining operations envisaged in the PFS are from an open-pit at an initial rate of 20,000 tonnes per day expanding to 35,000 tonnes per day after the second year of production. Ore is to be processed by conventional crushing and grinding followed by leaching and carbon-in-pulp (CIP) gold extraction. The processing plant will be constructed to enable a seamless expansion of capacity after the first two production years. The PFS uses a conservative 93% metallurgical recovery rate for Zone 1 ore, producing an average of 328,000 ounces of gold per year. The initial mine-life of approximately eight years is expected to be significantly extended in the final feasibility, as more of the project's Resources are converted to Reserves.
A blend of Chinese, North American and global costs is used in the PFS for all capital equipment purchases. The procurement, construction, installation and commissioning phases for the 20,000 tonnes per day operation as described in the Study are estimated to cost a total of US$235 million (expressed in 1st quarter 2005 U.S. dollars), including a contingency of US$30.9 million. The plant expansion to 35,000 tonnes per day, together with sustaining capital, requires an additional US$77.7 million in capital expenditures.
The PFS includes a net present value (" NPV" ) analysis of the project. Cash inflows consist of annual revenue from gold sales based on a US$400 per ounce price, and cash outflows such as capital and operating costs are subtracted from the inflows to arrive at annual cash flow projections. The NPV analysis has been done on a pre-tax project basis, using un-escalated costs and priced in 1st quarter, 2005 US dollars assuming 100% debt financing:
Project Life 8 years
Overall Strip Ratio 1.36:1
Payback Period 4.2 years
Unit Operating Cost US$ 5.54 per tonne ore
Total Cash Operating Cost US$ 187 per ounce gold
Total Production Cost US$ 271 per ounce gold
IRR: Pre-tax 17.7 %
Pre-Tax NPV @ 0% US$ 244,070,000
Pre-tax NPV @ 5% US$ 133,414,000
Various trade-off and optimization studies need to be completed on the processing side as well as geotechnical, hydrological and environmental studies for the final feasibility study. The project schedule anticipates commissioning the mill late in 2007.
Significant opportunities for optimizing the project design and economics of the project for the final feasibility study include:
Operating Cost Opportunities
Further research on the cost of consumables from Chinese suppliers could lead to replacement of the global or North American rates used in the PFS with locally priced (therefore lower cost) products. Furthermore, the PFS used Q4/04 costs, a time of high global pricing for all materials, which are expected to ease in the medium term. Research into locating the tailings impoundment area downstream of the mine-site would reduce operating costs compared with the current upstream site. Further metallurgical testing to optimize reagent consumption, metallurgical recoveries and grind size could result in lower processing costs.
Capital Cost Opportunities
The replacement of higher cost capital items with lower cost Chinese equivalents can reduce the capital cost of the project. The identification of a more efficient tailings impoundment site than that envisaged in the Study can also reduce the capital costs. The peak demand for mining equipment as depicted in the PFS could be met by using Chinese contract miners thus reducing the size of the owner operated fleet required.
Reserve Expansion and Exploration Potential Opportunities
The PFS only considered the Indicated Resource in Maoling's Zone 1 area as calculated by AMEC in late 2004. In addition, Zone 1 and Zone 4 have an aggregate Inferred Resource of 183 million tonnes grading 0.9 grams gold per tonne (5.1 million ounces) using the 0.50 grams gold per tonne cut-off grade. Since these resource estimates were generated the Company has continued its drilling programs to both convert Inferred to Indicated Resource and to expand the resource base. The Zone 1 mineralized trends remain open to the south and the Zone 4 mineralized trend is open to the southeast and northwest and both zones remain open down-dip. The potential exists to add significantly to the reserve base, and therefore, to the life of the mine.
Mundoro is in the process of assembling the professional team that will undertake the final feasibility study and prepare the environmental impact assessments required for project permit applications in China.
Drilling Programs Ongoing
Concurrent with Mundoro's work to advance Maoling through development, drilling programs will continue to assess expansion potential of both Zone 1 and Zone 4 areas.
Three core drilling rigs have been in operation at Maoling since early April. Mundoro intends to continue this program concurrent with project feasibility work, with the following objectives:
* To collect structural, geotechnical, hydrological and other data for the Zone 1 feasibility study;
* To maximize the number of gold ounces for consideration by the Zone 1 feasibility study; and
* To continue expanding the gold deposits at Maoling which remain open along strike and down-dip.
Significant potential remains at Maoling to build the project's value through both a rapid progression to production and the overall expansion of its scale. Mundoro has already been successful in adding considerable value to the project and expects to continue this performance as drilling and feasibility work advance.
..die Studie bezieht sich nur auf 3 Mio Unzen , einen Goldpreis von 450 US$ und auch die Kostenseite ist sehr konservativ angesetzt...
Fazit: strong buy
www.mundoro.com/news/news.html
www.mundoro.com/maoling/maoling.html
