Rods are turning for Norfolk as big Chilean copper targets loom large
By 2007, a starting 43-101 source around the 5.6mt project at 0.6% CU had surrounded the source.
Norfolk says the source is still open in all directions and does not contain some star hit that did not work on the source at that time. In 2.46 % copper numbers such as 41m – and this surface – and 4m continued a copper of 17.37 percent.
In the oxide area of 1.48% of the surface, a 39m junction has not yet been studied in a junction of 39m, 29m at 1.25% copper from the surface and 1.82% copper from 8.9m to 1.82%.
Norfolk plans to make some of these holes to prove that they are real and to pierce the oxide area source before building a low -cost, high -cost, high -marketed lach lach ”operation that produces copper cathode. This strategy is not a chance in the dark; Chile and its surrounding neighbors have a deep history of successful pile of LEACH operations in which suitable metallurgy, low stripping rates and established infrastructure can create projects with fast reimbursement and solid margins. Norfolk said that Carmen has all these advantages and that geology scored Norfolk.
The oxide cover is highly soluble and suitable for the heap leakage – the historical colon test work indicates only a scenario in which the ratio of scraping may be almost ashamed in the surface nature of the oxide blanket.
Interestingly, Norfolk includes two executives Jason Grieve and David Fowler – both of them seem to have come together to develop Carmen, who will sit in the operational surveillance committee and both to buy shares in Norfolk.
When it comes to pile -leaching operations, Fowler was found there before and did it, the Finders Resources, which run the 20,000 -ton wetar Copper Heap Leach Project annually.
In addition, it is also very useful with the previously $ 400 million stock increases and the fact that Merdeka Copper gold was a CFO of $ 9 billion as a CFO of $ 4 billion. Grieve was recently CEO in Merdeka and has been a search card for more than thirty years and has a search card and including Barrick Gold, Placer Dome, Rio Tinto, North Ltd and Evolution Mining. At the same time, Red 5 was the coo of the Hill King of the Hill, and it was effective in the development of both Cowal and the King of Hills Greenfield.
Norfolk seems to take more than the transition – both of them can be hanged in the option to use the final 30 percent of Norfolk’s Norfolk’s Norfolk’s Norfolk’s Norfolk’s Norfolk’s Norfolk’s Norfolk. Trancence will also appoint a director to the Norfolk Board of Directors.
Norfolk and Trancence also attracted the general manager for Alex Raab, which was not a grunt. Considering that Raab is included in the Challenger Gold Mine for more than ounces, it is a good position to control drilling operations in Carmen. In addition, some of the most successful mining projects in Chile has a resume of a weapon length working around and around.
Raab, Fowler, Grieve and Norfolk’s well -known Perth Executive Chairman Ben Phillips, in combination, is well placed well to perform Norfolk’s high -marginal low Capex heap lever operation Carmen vision.
Phillips also has another profitable -looking plan, which for now it is only partial focus. Under the oxide area in Carmen, there is a potentially a handful of companies that make historically copper hits. 69m at 1.37% copper from 43m, 2.15% copper, 14m at 1.77% copper and 0.92% copper from 66m.
The hymen campaign will see 4 Wildcat holes sinking into the sulfur area, and these holes can only provide one step change in excitement. They all complete Norfolk’s strategy well.
Drill the oxide area, create a low -cost stack of leaching operation and start printing cash. Drill the sulfur area and use the money obtained from the pile leak operation to potentially build a mine alone if the sulfur numbers are real.
And unlike most hymen drilling programs, it is difficult to think that there will be many or even any dust in this campaign with very historical copper discovered in this project.
Norfolk is structurally structural with only 65 million stocks, which are strictly held by the first 20. There is only a very modest market value of $ 10 million – and there are about half of cash in the bank!
Now it makes sense why Norfolk’s July capital increase is exaggerated and both Grieve and Fowler hit their own wallets to buy Norfolk shares. This can be interesting – and the price of copper can be interesting quickly – when the price begins to test the last heights in the last few months.
Does your company on the ASX list do something interesting? Contact: Mattbirney@bullsnbears.com.au
