TON - Triton Minerals

[condog]

Re: TON - Triton Gold

Sorry all i just couldn't help myself here...condog how long do you think its going to take TON to process this 4.5 million tonnes of tailings with this 200K processing plant you speak of, also how many people are going to be needed to run this operation? and for how long?

So_Cynical that does not warrant a response if you think its a full budget...goodbye

To others a tailings dam is immensly easier, faster and cheaper to process then underground drilling in rock formations....and one would assume a 113,000 ounce depositr sitting in a damn is near impossible to ignore...with feb 14th deadline for decision...so DYOR and ignore So_Cynical 's attempt to gain revenge for a lost argument elsewhere .....if hes that immature, I suggest you ignore his garbage attempts to hijack this thread...

 

[condog]

Re: TON - Triton Gold

For anyone who would like to listen to the cycnic, they do not need to process the entire 4.5 million tons, just like any mine there are economically viable portions and uneconomic portions.... sample drilling has already unearthed 29% of the holes as clearly economically viable .....

Like any mine the total return is unlikely, but in this case its pretty easy and cheap to find.....as indicated below......even if they only manage to process 50% thats a $32M net cash bonus at $500 net USD per ounce..... over say 5-10 years its $3-$6 p.a. cash injection to fund exploration in thier high grade tenements elsewhere and to fund all admin costs the entire time...

In saying this a $500net would be on the extreme worst possible case scenario given the ease of processing, the proximity yo surface, the safety and the fact the gold price is still comfortably high and looks like holding or going higher....

ASX Announcement 25 November 2009
Windarra Gold Tailings Update
Poseidon Nickel is pleased to announce positive results from drilling completed on the Windarra Tailings Dams. The drilling was carried out by Triton Gold under its Gold Rights agreement with Poseidon Nickel. Poseidon has a 13% shareholding in Triton Gold and Poseidon’s CEO David Singleton, is a Non-Executive Director to the Triton Board.
Triton completed 2089m of sonic and aircore drilling across the Windarra Tailings Dams which contain gold bearing tailings that were deposited by Western Mining Corporation (WMC) from the Lancefield and Beasely Creek Gold Mines between 1981-1995.
Triton Gold and Poseidon Nickel are both encouraged by the initial results, with over 29% of the meters drilled on the northern tailings dam returning fire assay values greater than 0.8g/t gold. The early indication from these results is that there are zones of significant grade within the tailings dam that have potential for near-term production.Triton has engaged CSA Global to complete a JORC compliant resource estimation for the tailings dams by early December 2009. Metallurgical test work on bulk samples collected from the sonic drilling is due to commence shortly to investigate processing and treatment options.[/B]

Posiden with 15% interest, and with its $50M Twiggy injection also believe it has near term potential....
The results of this JORC have come back at 113,000 ounces possibly up to 130,000 ounces...
So please ignore Mr Cynical, i feel asx announcments and JORC results are far more indicative of actual facts........this is my opinion so please DYOR....

 

[Mofra]

Re: TON - Triton Gold

This is a stock I don't hold but is on the watchlist (actually, researching this reminds me of MGX a few years ago in terms of development stage).

Condog, in terms of the $500net per ounce figure you have mentioned, is this an industry standard figure you've used for open pit/tailings processing or have I missed a quoted figure buried in an announcement somewhere?

 

[condog]

Re: TON - Triton Gold

This is a stock I don't hold but is on the watchlist (actually, researching this reminds me of MGX a few years ago in terms of development stage).

Condog, in terms of the $500net per ounce figure you have mentioned, is this an industry standard figure you've used for open pit/tailings processing or have I missed a quoted figure buried in an announcement somewhere?

Its a baseline estimate figure i use as with todays gold price most producers are able to achieve that.....in this case they should bne able to easily beat that by a safe margin...

Most the underground miner i invest in are working at around $400 per ounce costs which is actually giving them $700 profit.....but some operate as low as $350 profit per ounce....

$500 would IMO be a safe amrgin to do my calculations on...

 

[AussiePaul72]

Re: TON - Triton Gold

Sorry all i just couldn't help myself here...condog how long do you think its going to take TON to process this 4.5 million tonnes of tailings with this 200K processing plant you speak of, also how many people are going to be needed to run this operation? and for how long?

Hi So_Cynical ........ i'm interested in your opinion and views on Windarra but i'm not understanding you point of view. Are you questioning the viability of the Windarra gold resource or are you questioning the figures that Condog used in his calculations???
Personally i don't see how this project could not be viable but i guess that will all be released in the scoping study due soon. With the calibre of this management team I really don't think they would chase projects like that if they weren't viable and especially when the JORC resource was right in the ball park area of what management were expecting.
I'd like to hear your point of view and reasons though!

 

[So_Cynical]

Re: TON - Triton Gold

Personally i don't see how this project could not be viable but i guess that will all be released in the scoping study due soon.

The scoping study will reveal all...its just i know of another Goldie with a similar sized tailings deposit who are spending about 20 mill on development using a specialised mill to finely ground the ore so that as much gold as possible can be recovered.

 

[condog]

Re: TON - Triton Gold

The scoping study will reveal all...its just i know of another Goldie with a similar sized tailings deposit who are spending about 20 mill on development using a specialised mill to finely ground the ore so that as much gold as possible can be recovered.

Its less then a month till all is revealed, so far everything is very positive in terms of resouce size and language used to indicate near term progression....

Thats what really counts here....one has to trust managment to come up with best processing plant for the resource....and im sure they will....

They are an extremely switched on bunch of cookies to have come up with these arrangments and resources / potential resources so dam fast.....they have done morefor shareholder value in less then 12 months then most companies i analyse have done in 5 years....See thier corporate presntation asx release dated 8th August 2009



So credit where credits due....

 

[condog]

Re: TON - Triton Gold

Oh and then of course theres Wyandra which is there best prospect not fully mentioned in the presentation above.....as its class was only suggestive at that stage...now its JORC

MAIDEN MINERAL RESOURCE ESTIMATE FOR WINDARRA TAILS DAM
● Initial Mineral Resource of 4.50 million tonnes at 0.78 g/t gold for 113,300 contained ounces Indicated Resource for the Windarra Tails Dam Project
● Resource estimate confirms historical records from internal WMC reports
● Metallurgical studies are underway on bulk samples derived from the drill samples
● Scoping Study is on-track for completion in February 2010

Most young goldies take years to come up trumps withthis many high grade prospects plus a very possible cash flow possitive situation like Wyandra

They have a truck load of experience between them , and now thier very proactive apporach to deal making looks set to payy off nicely.....
So I have every faith in these guys to get the nuts and bolts right....

If theres one thin ive learned about these juniors its their deal making ability that makes or breaks them....any bogan can order and pay for a seismic or pay a premium for a known tennement.....

So i like what these guys have done....very qucikly and very cost efficiently...

DISC - DYOR, this is all opinion, yes i own and intend to profit...

 

[Mofra]

Re: TON - Triton Gold

Its a baseline estimate figure i use as with todays gold price most producers are able to achieve that.....in this case they should bne able to easily beat that by a safe margin...

Cheers condog - I guess the scoping study may provide further information, especially condiering the other equipment they will need to process the ore and what sort of credit facility they will be looking at to set it all up (if required).

The scoping study will reveal all...its just i know of another Goldie with a similar sized tailings deposit who are spending about 20 mill on development using a specialised mill to finely ground the ore so that as much gold as possible can be recovered.

Which other goldie?

 

[condog]

Re: TON - Triton Gold

Hey Paul you must be getting a little excited now with drilling happening at both Sunday and Salmong Gums and a scoping study on Windarra due within a month....

Plenty of possibly big results building in the pipeline.....after a pretty long initial wait for you....

 

[Miner]

Re: TON - Triton Gold

Cheers condog - I guess the scoping study may provide further information, especially condiering the other equipment they will need to process the ore and what sort of credit facility they will be looking at to set it all up (if required).



Which other goldie?

Mofra

First of all I do not know about the other Goldie So Cynical referred to in his thread.

However with my mining experience in Kalgoorlie in 1994-95 there was a company called Kaltails. It was formed by Normandy group who also owns half of KCGM with Homestake. I think Kaltails does not exist any more with no more tailing left there. KCGM is very much in existence with Super Pit as you all know.

Kaltails used to take the rejected tails from gold plant. The tailings contained 1 or less ppm. In the year 80-90 most of the gold companies used to reject gold tails with that percentage for many reasons including technology gap, unattractive gold price to realise profit from such a lower grade of gold.

Now situation is different. Boddington Gold Mines (Newmont) is operating with a very low grade ore (about .785 gm per ton or so - DYOR my memory chip is defective) and going to be a profitable gold operations with current gold price.

So bottom line: I am hoping on the basis of technical reading of the operational philosophy unless the management stuffs it up and gold price crashes, TON is going to be very encouraging even with .78 ppm ore value.

We need to consider the expensive operations of mining and crushing will not be there.

Windarra tailings is therefore very promising. The amount of gold is however not much. Having said that once the Windarra tailings start producing the cash flow will be good enough for the company to go for more exploration and opportunties.

The location is just right. It is located at Albany Fraser province of WA, behind companies such as AngloGold-Ashanti and Independence Group.

Please do your own research and take professional advice. I could be totally wrong.

I am however thankful to the postings in this thread and a PM I have received from a learned contributor of this thread. I have not noticed on TON until recently.

Disclaimer _ I do hold a small parcel DYOR.

 

[So_Cynical]

Re: TON - Triton Gold

So bottom line: I am hoping on the basis of technical reading of the operational philosophy unless the management stuffs it up and gold price crashes, TON is going to be very encouraging even with .78 ppm ore value.

We need to consider the expensive operations of mining and crushing will not be there.

Windarra tailings is therefore very promising. The amount of gold is however not much.

I have a limited understanding of tailings, but i was under the impression that any gold in a tailings deposits would be very small particles (micro) contained within slightly larger and yet still very small particles...so fine crushing would still be required to release the gold....is this not true miner?

Are tailings just ultra small particles similar to powder and the gold simply needs to be separated?

Anyway i did some rough calculations and came up with a 20 foot shipping container filled with Windarra tailings would roughly contain about an ounce of gold (very fine powder) worth about $1200 AUD something to think about.

 

[condog]

Re: TON - Triton Gold

Hey Miner I think youve hit a few nails right on the head here with IMO some extremely accurate observations....Id liek to add to this

Firstly the tailings as you said are out of the gorund.....so massive mining and OH&S savings

They are crushed so more massive savings

Its a continued use of an pre-exisitng site some infrastructure may be in place, and certainly environmental concerns and approval costs will be reduced = more savings...

I acknowledge they are in one hell of a big pit, but the whole pit does not and will not need to be processes....spot drilling has already and will continue to help target the best locations...

The most significant thing is it gives them an almost immediate positive cash flow to fund exploratory work on some excellent prospects...and for a small cap company like this that is absolute financial GOLD on a grand scale.....and for share holders its even better as it means we will not be constantly diluted...This near term possible significant cash flow IMO is an extremely powerful tool for the accellerated growth of the company....

Windarra tailings is small but , the likely return compared to the market cap and the ease, speed , low cost and acuracey with which it can be obtained IMO should it a significant sp accellerator for TON....

Personally i believe TON have already indicated they think the same in their announcement, but the scoping study would surely be required to gain funding and cover there _______s to proceed...

Ive been worng before so DYOR and get expert advice....

 

[Miner]

Re: TON - Triton Gold

Cheers condog - I guess the scoping study may provide further information, especially condiering the other equipment they will need to process the ore and what sort of credit facility they will be looking at to set it all up (if required).



Which other goldie?

I have a limited understanding of tailings, but i was under the impression that any gold in a tailings deposits would be very small particles (micro) contained within slightly larger and yet still very small particles...so fine crushing would still be required to release the gold....is this not true miner?

Are tailings just ultra small particles similar to powder and the gold simply needs to be separated?

,,,,.

So Cynical

Tailing is the fine material comes out from the ball mill. So the size will always be lesser than after crushed product and after milled product. They never need to be crushed again.

Correction : after few years the tailing could be rock hard solid . But IMO they can be directly fed into mill again or with any innovative technology (I do not know this update) is available then the crushed product can be treated with the additon of cyanide to make the slurry once again to go through the brine solution.

Not to make it technically difficult sounding, the crusher is no no with the tailng product. It should be more welcomed by environment people as you are actually helping to recycle the product.

Trust that explains SO Cynical.

I am unaware of the logistics of TON to treat the tailing on site, to transport as slurry pipeline, use of coveyor or to use C tainers as you have mentioned. Honestly can not comment on that or the cost of $1200 per 12 ton C tainer you have mentioned. Sorry - could not help.

Noted Condog's posting. Sounds intersting and encouraging. It is end of the day, market will decide the price irrespective of technical merit of the product and operation.

DYOR and seek expert advise. I have been wrong before to jump into conclusion.

 

[kgee]

Re: TON - Triton Gold

Hey Miner,

Not sure if your correct about the crushing
check out envirogolds website
http://www.envirogold.com/
Theyr'e looking at using "albion process technology" which requires ultra fine grinding b4 leaching
As I understand it so-cynical has it right ... the gold is locked up in the tailings otherwise it would have being recovered in the initial processing

Haven't bought into Ton yet but hope 2 b4 announcements are out

 

[So_Cynical]

Re: TON - Triton Gold

So Cynical

Tailing is the fine material comes out from the ball mill. So the size will always be lesser than after crushed product and after milled product. They never need to be crushed again.

IMO they can be directly fed into mill again then the crushed product can be treated with the additon of cyanide to make the slurry once again to go through the brine solution.

Not to make it technically difficult sounding, the crusher is no no with the tailng product.

So your saying the tailings would be just put through a ball mill again, or thought the leaching thing again or both? and if we are looking at just 0.7 grams per tonne maybe only half of that could be recovered through normal processing? because you can never achieve total recovery....that's why the gold is in the tailings in the first place.

Also with the shipping container comment i made...i just wanted to give people a visual aid in understanding the mathematics and reality of recovering 1 ounce of gold (approx) from 30 tonnes of tailings....never wanted to give the impression that shipping it anywhere was viable or on the cards.

Hey Miner,

Not sure if your correct about the crushing
check out envirogolds website
http://www.envirogold.com/
Theyr'e looking at using "albion process technology" which requires ultra fine grinding b4 leaching
As I understand it so-cynical has it right ... the gold is locked up in the tailings otherwise it would have being recovered in the initial processing

EVG is the other tailings mob i was talking about.

 

[Miner]

Re: TON - Triton Gold

Hey Miner,

Not sure if your correct about the crushing
check out envirogolds website
http://www.envirogold.com/
Theyr'e looking at using "albion process technology" which requires ultra fine grinding b4 leaching
As I understand it so-cynical has it right ... the gold is locked up in the tailings otherwise it would have being recovered in the initial processing

Haven't bought into Ton yet but hope 2 b4 announcements are out

Thanks Kgee

I will update my knowledge base.

I was more driven by the experience with Kaltail Plant and reading your link looks like I have to do more research

Thanks again

 

[Miner]

Re: TON - Triton Gold

So your saying the tailings would be just put through a ball mill again, or thought the leaching thing again or both? and if we are looking at just 0.7 grams per tonne maybe only half of that could be recovered through normal processing? because you can never achieve total recovery....that's why the gold is in the tailings in the first place.

Also with the shipping container comment i made...i just wanted to give people a visual aid in understanding the mathematics and reality of recovering 1 ounce of gold (approx) from 30 tonnes of tailings....never wanted to give the impression that shipping it anywhere was viable or on the cards.

EVG is the other tailings mob i was talking about.

All good information So Cynical and thanks for your update.

I am fully aware that you are a gold shark so will not place a blind card

Seriously thanks for the update by quoting Kgee as well. I need some beer now with temp 40 deg outside

 

[condog]

Re: TON - Triton Gold

Interesting debate....

Albion Technology sounds good but expensive, obviously a hell of a lot cheaper though then digging gold out of the ground....I would have though slurry and cyanide....but lets ask them...

Dont ever lose sight this is not a project that will get or aim to get 100% recovery.... they will have to use drilling data, sample data of some sort to pick thier targets..... I recall???? 29% of the dam has been identified with reasoanbale quantities.... (too tired to find it)...

Any way I will email or call them and ask them what sort of process they expect to use , or what they have short listed, I will also aske them waht sort of % they envisage might be commercially recoverable....

Its likely to early , and the scoping study in Feb will reveal all, but theres no harm in asking....

I have edited this post and just sent them 7 questions.... they will be posted here if I recieve a response...

 

[AussiePaul72]

Re: TON - Triton Gold

Interesting debate....

Albion Technology sounds good but expensive, obviously a hell of a lot cheaper though then digging gold out of the ground....I would have though slurry and cyanide....but lets ask them...

Dont ever lose sight this is not a project that will get or aim to get 100% recovery.... they will have to use drilling data, sample data of some sort to pick thier targets..... I recall???? 29% of the dam has been identified with reasoanbale quantities.... (too tired to find it)...

Any way I will email or call them and ask them what sort of process they expect to use , or what they have short listed, I will also aske them waht sort of % they envisage might be commercially recoverable....

Its likely to early , and the scoping study in Feb will reveal all, but theres no harm in asking....

I have edited this post and just sent them 7 questions.... they will be posted here if I recieve a response...

Have been away this weekend and just caught up on the good discussion. Good initiative Condog to contact management for some info and see what they are expecting. However, none of us will have to wait long before the scopying study should be released.
There is a lot of discussion on Windarra Tailings project and it is very topical at present, however, my reasoning for investing in TON was due to the potentially large scale projects. One of these is Salmon Gums which they are currently drilling ...... and i'm very keenly awaiting drilling results. If you read announcements relating to this project, the initial gold in soil levels at a number of prospects at Salmon Gums are significantly better than those gained at the 5M ounce Tropicana gold resource in the same region. I find it difficult not to get very excited about that project alone!!!