Neil Ringdahl Profile picture
Aug 30, 2019 16 tweets 7 min read Read on X
1/15 THREAD: Gold metal accounting, East Katanga -DRC- style

Hats off to these guys.

UG Mining using hand implements. Head grade 3-5 g/t Mining recovery 40%. -> 7.5t moved for 1 tonne of ore. Mining dilution 0% -> Hand pick the ore.
2/15
Look at this workmanship! This particular hole was 36m deep & consisted of about 30 x 1.2m high steps. At the bottom, they rat hole in all directions along the structure. Scary stuff geotechnically, but they're way better than most trained geologists at finding pay shoots.
3/15 Its dangerous work, especially in the rainy season when these hole often collapse. Many die each year, but what else can a man in E. Katanga do? They are men of faith and they work for a "point" per day (0.1g/day or about $4 at today's price).
4/15 I caught these miners going home after a week of working, day & night. They work typically 14-18 hrs each day and snatch sleep under plastic or grass lean-to's, cooking for themselves. Saving money for batteries and beer. Really good men. Very humbling, their happiness.
5/15 We had it good, sleeping in the Catholic monastery each night after a three hour drive, the oldest brick building in the DRC, built by monks in 1935. They had the most amazing choir I have ever heard, which woke us during practice at 5:15 a.m. each day.
But I digress.
6/15 Back in the mining area, ore is carted in 40kg hessian bags on bicycles to milling stations. Here crushing takes place, again by hand.
Estimated losses to fines 5-10%
3g/t -> 2.7g/t
7/15 Crushing is also done by hammer. Note how worn the hammer in his hand is. This man earns US$0.50/day doing this. Its enough for one meal of Cassava. Grim. All-in mining & processing cost is about $20/tonne + a lot of sweat, blood & tears.
8/15 Milling with mercury added. Notice the mill ball behind the guy. His engine was broken that day, but he told us he normally mills about 3t/day. Its a 24 hr operation and he has 5 guys helping him. He is the boss man because he had money for an engine. And fuel. Its $4/litre.
9/15 Have a look at this mill shell & bearing. It gives new meaning to white-metal bearings 😏, but it works! Milling is a batch process. Load the mill by hand. Run it for a few hours &then unload. Repeat until you run out of fuel, which comes only by bicycle, a journey of 1 day
10/15 The milled product is then thoroughly mixed with mercury by treading -as you would tread grapes- in these UN-blue plastic lined "tanks". Afterwards the mercury amalgam is concentrated by sluicing off lighter material (sorry no pics).
11/15 Here is the is an amalgam bead. About 50% pure gold. The mercury is vaporized in pots that are also used for cooking, in the grass huts in previous pictures. Overall recovery is around 60%. It was too valuable & they were too scared to show us the final product, which...
12/15 is ferried in small, hidden quantities on bicycles to town. Here, it is sold to local buyers with dishonest scales, for just $500/oz at the time (2016). Transport and TC/RC's are the given reasons. As is always the case, terms UNreasonable are sold as MOST reasonable.
13/15 Yet despite the theft, the poverty there is joy. How is this possible? They have nothing yet they have EVERYTHING. We could learn a thing or two here, with our 1st world problems, sulky, sullen faces and mobile phones more important than the other person in the room?
14/15 Here are two gold buyers. These guys really did not like or want to be photographed but I managed to sneak in a shot nevertheless while they were talking to my father. These guys make good money: Perhaps $100/month or more.
15/15 From here the gold goes by boat the 80km across Africa's longest & deepest lake, Lake Tanganyika to be sold to fat-cat Arab traders in Tanzania, who in 2016 were buying for around $7-900/oz, again on dishonest scales. They naturally do best of all, like all off-takers.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Neil Ringdahl

Neil Ringdahl Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @NeilRingdahl

Nov 29, 2022
Good tactical & strategic planning along with execution is more important than grade. A 🧵

Our case study today is Pure Gold $PGM
& how it turned into Pure ..💩

1st, some theory you'll know if you have been following me 4 a while:
/1
These concepts are important because the decision was to use large trackless machines in the mining of the new access ramp & therefore say to say all ore development will be of a similar size as well. We should therefore expect dilution issues in narrower orebodies of Marsden /2
SRK (Vancouver) did quite a nice MRE for the Co. I know Wayne Barnett, he is quite a smart fellow & a good geo with solid experience. The report reads well, and tellingly, there are NO RESERVES & NO MINE PLAN. Alarm🔔's beginning to ring. /3
Read 13 tweets
Nov 23, 2022
#Mining with Electric machines: A modern miracle to save the environment or a pipe dream? 🧵
I'll discuss both open pit & underground apps.
For 60yrs, engineers have been innovating electric mining machines b/c they're cheaper. An electric dragline moves 60t each swing.😳1/
These monsters are so huge, a ship's diesel engines don't cut it. Way before I was even born, the clever guys worked out its cheaper -on a per-tonne basis- to use electric motors connected to the grid. They work well and are excellent in soft-rock stripping operations. 2/
Mining is about LOGISTICS of moving large masses of material to expose what is valuable & then move the valuable material to extract the metal. All this movement requires a LOT of energy.👇If you have ever dug your own swimming pool, you understand.😏 3/
Read 20 tweets
Oct 23, 2022
The DANGERS of spreadsheet mining. A🧵

Some of you may have been following the $AUN debacle, a good e.g. when the Lassonde curve goes south. 😬

I will discuss a few important technical flaws in the Aurcana investment thesis. /1
A couple of things in the 2022 Feasibility study Mineral Reserve Estimate immediately jump out.
1- The reserve is small
2- The min. mining width is crazy
3- The dilution No.'s seem too precise

One thing mining is not is precise. It can be accurate, but that's a different thing/2
Let's learn all about this mining method from $AUN. Below are excerpts from the FS tech report with my comments in red.
A (nice) investor video of the mine explains the resue method quite well by the then COO during minutes 16:41-23:33.

/3
Read 11 tweets
Aug 25, 2022
1/ Lets review this Q:
@Darken_Man got it right, well done.
Look at the pit floor: Very uneven, by far the biggest negative impact on this operation. Why? Slower reversing in, slower truck tramming, more difficult loading & damage to tyres. "How so?", you may ask.
Thread:
2/ Have you ever driven a car on a really bad road? Its slow and hurts the car. With trucks its way, way worse b/c trucks are the most expensive part of the open pit mining biz. & they're also the production conveyor that moves your product in diluted form to the plant.
3/ Consider a typical medium-sized OP operation with 180t dump trucks running an avg. cycle of 45 minutes, for 19 effective hrs/day. That works out to 1.64 million tonnes per truck per yr (with 5days off). Now, if the floor was level it would likely save 20-40 seconds reversing; Image
Read 15 tweets
May 17, 2022
1) Thread: From Drilling to Open Pit Optimization For Dummies.
Imagine you have project and hire a truly great geologist who has drilled some fantastic looking sections based on a small surface anomaly he found from a surface geochem sampling program. Image
2) Your geologist (lets call him George) tells you its a pipe-like copper skarn, vertical in nature about 50m wide and open at depth that he interprets (a key word here) in section in this pic below. (We will keep things simple by staying in only two dimensions X & Y). Image
3) Your drill results come back and your copper values are amazing. The consultants concur with George's interp, and then create a 3D grid over of blocks over it, each block being approximately equal to a the minimum mining unit size, which for open pit would be about 10x10x10m. Image
Read 19 tweets
Mar 28, 2022
1/11 $REG REVIEW Thread: - I'm a hopeful shareholder, underwater🙄for 3yrs now. Bought it at 1.65 - yeah crazy I know. Here's a review & why I'm still in. The pic below says it in 1000 words.
2/11 Probably the most important point is the property is and in particular the resource is part and the same of an adjacent operating mine, Tantahuatay, which is 40.1% owned by Buenaventura (the operators), 44.2% by Southern Copper & 15.7% by Regal Ware Inc. out of the USA.
3/11 Tantahuatay is a sweet oxide OP mine hitting the oxide cap above a huge porphyry & produced 110koz Au & 2.1Moz Ag last year. However this year production is F/casted to be 77koz Au as they start to get into the sulphides which cannot yet be processed.
Read 11 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(