The installation of a larger filter press is just a de-bottlenecking activity which is commonplace in the process industry (I'm a chemical engineer and have been involved with many de-bottlenecking projects). Since the plant is producing in-spec material and has produced it at close to design rates I feel pretty comfortable with the process itself and that the majority of the equipment must be aqequately sized for the design rates. Now they know the volumes of fines they need to remove any guesswork should be taken out of the sizing basis for the filter. I'm guessing they will also include some design margin. This kind of thing is bound to happen with what is basically a pilot plant so unless there's something untold going on with the process I expect the filter will resolve the rate issue. Considering the risk/reward at the current SP I'll definately be topping up at these levels.
MHM Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
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