TON
unlikely to have approx 382 Million Tonnes of 17-19% Graphite
when comparing to SYR, two points:
1. the widths of the SYR high grade deposits are much wider, up to 300 metres, meaning SYR can open cut mine deeper
2. the SYR JORC is based on 150 metre depth
3. TON width for high grade is currently 50 metres at best thus cannot be mined as deep as SYR with similar economics
say the high grade strike is 4km
4,000m x 50m x 100m deep x 2.5SG = 50 million tonnes at 15%
there is no point JORCing the TON high grade to 150 metres, let alone to 500 metres deep
the TON share price got moving based on an unassayed announcement of 311 or so metres of low grade ore
now TON are drilling deep so big tonnage can be JORCed. for what purpose?
as SYR have shown, for them, there is no point thinking of mining below 150 metres
so what about TON? how deep can 50 metres wide be mined?
this is why the medium grade graphite is very important for TON but TON, at this stage, can never ever be compared to SYR
if all goes well, imo guess, maybe worth 1/3 of SYR, i.e., dependent on favourable metallurgy results
