I last held Batavia back in 2006 and now feel its almost time to re board the Ship.
Batavia's major area of interest is the Gullewa Project in WA.
Here's an Overview of BTV for all those Interested. P.S. I'm Still awaiting some substantial rise in Volume from my Live ASX Feed Scanner turbotrader before entry.
Batavia Mining Limited has made significant progress on the Deflector Gold-Copper Project, located in the Gullewa Project area, in 2005 and 2006 after realigning its objectives. Further exploration drilling was undertaken on the Deflector Gold-Copper Project which was successful in increasing the Mineral Resource to 770,000 Au Eq ozs. The global resource inventory for the Gullewa Project is now 872,000 Au Eq ozs.
The metallurgical test work program was successful in meeting the key objective of developing a common gravity and flotation process to produce gold bullion and copper-gold concentrate from the oxide, transitional and primary material.
Batavia has now completed a preliminary review of the Bankable Feasibility Study (BFS) completed on the Deflector Project last year focusing on potential enhancements to the project economics by increasing the plant throughput to achieve economies of scale.
The mining review has demonstrated that underground mining rates can average 450,000 tpa, compared with the BFS figure of 230,000 tpa, utilising the same personnel and equipment levels, with the exception of one additional underground loader for a period of 12 months.
At this increased throughput level, the unit operating costs are reduced from approximately $143 to $111 per tonne, a significant reduction of $32/tonne. The capital costs for the process plant and infrastructure would increase accordingly by approximately $11.3 million to $37.6 million due to the increased milling and flotation capacity required.
The estimated capital cost for the processing facility in the BFS was based on the acquisition of all new equipment, the installation of one large mill and excluded the possibility of utilising the existing two smaller mills already located on site. The Company therefore believes that there are opportunities to reduce the capital cost by sourcing plant and equipment from the second-hand market.
Mining costs for the Project were developed on the basis of using contract mining for the open pit and owner-operated for the underground mining operation. Under the increased mining rate scenario, capital costs for the new underground fleet would increase from $10.6 million to $12.6 million.
The review has confirmed that overall economics for the Project improve under the increased throughput scenario, notwithstanding the increased capital required in certain areas. However, Batavia is in the process of developing other opportunities that can assist and complement development of the Project either through joint venture and/or acquisition.
The Company will advise the market as soon as significant progress is achieved in this regard.
I would suggest sit back on BTV and wait for that surge in "VOLUME" Thats the Key, to a timed entry
Cheers from grant64/Blackrange
P.S. Take Note that when the (BFS) Bank Feasibility Study was undertaken Gold Price was Approx $600 P/oz. now $890+ An Increase of 45%+