OPEX for AGM will be approx A$63 per tonne of ore mined, which equates to around A$2.20 per pound of nickel in concentrate, assuming recovery rate of 1.13% nickel.
However, AGM states recovery rate of 80%+ which could mean 80%+ of 1.13% (????)
Also note that initial recovery rate is 1.14%+ followed by 1.12%, hence the average 1.13% used in the figures above.
JBM
jubilee mines nl
