Why is Magnum Mining & Exploration considering a fast start-up option for its Buena Vista Iron Project?
Magnum Mining & Exploration (ASX: MGU) has recently announced the completion of a short-term mining schedule for its Buena Vista Iron Project, located in Nevada, USA. The company has been investigating the possibility of an expedited mine development plan, and the study provides valuable insights into the site's potential for the coming years.
Five Year Mine Schedule and Ore Production
The study delivers a five-year mining schedule, providing 2. 5 million tonnes of ore to a beneficiation plant per year. The ore grade averages 29. 1% Fe over the five-year period, supporting an average annual concentrate production of 800,000 tonnes. This offers significant potential for the site, with the project's strip ratio averaging (W:O) 0.
Story Continues.. after this ad because we need some dollarydoos
29 over the five years.
Results and Optimizations
Magnum Mining & Exploration's mine schedule provides the industry with a glimpse of the potential of the Buena Vista Iron Project. The company contracted with SRK Consulting, the industry leader out of Reno, Nevada, to develop the mine program to investigate potential commercialisation of the mine. The plan maximizes the ore grade while minimizing the strip ratio to achieve the optimal pit, which should not sterilize any resource. The pit slopes also have been designed to be conservative at 43 degrees in the absence of sufficient geotechnical data.
Plans for Short Term Expedited Mining Development Plan
Magnum Mining & Exploration's Scoping Study for the Buena Vista Iron Project projected annual production of 1. 6 million tonnes per year of high-grade magnetite concentrate. However, a fast start-up option based on obtaining better quality portions of the already existing resource is being considered. The mine schedule has made it possible to garner an average of 800,000 tonnes of high-grade magnetite concentrate per year.
Investors and Market Implications
The implementation of a short-term, expedited mining development plan may increase cash flows from the Buena Vista Iron Project. Magnum Mining & Exploration's plans to exploit the potential of the mine only heighten investor optimism, who are keen to seize the opportunity the project has to offer.
Magnum Mining & Exploration is well on the way to achieving its desired results at Buena Vista Iron Project. The study carried out has revealed significant potential for the site and provides the company with valuable information to improve the project's overall efficiency levels. With such promising results, it is anticipated that investors will heed the company's clarion call and exploit the potential of the iron project. After all, the initial results are indeed impressive, setting the company on the right path towards commercializing the mine.
Promote your business on our growing investor platform: Advertise With Us
Berkshire is hoarding so. much. cash.
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
#ASX:ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
