why is the train leaving the station, page-24

Mango and Trudy,

Page 13 of the proposal - "The DPEMP describes the proposed processing operations to be undertaken at Hellyer by IHM to produce a high-grade zinc concentrate (65% Zn) and a high-grade lead concentrate (82% Pb)"

i.e. they will be producing a concentrate not pure metal

Page 15 - "Intec plans to produce approximately 11,000 tpa of high-grade zinc sulphide and 13,000 tpa of high-grade lead sulphide for export from two feedstocks: approx. 25,000 tpa of EAFD (incorporating approx. 15,000 tpa of new ‘arisings’ and 10,000 tpa of stockpiled
feedstock); and approx. 56,000 tpa of lead sulphide recovered as an additional product from current operations at the HZCP."

11,000 x 65% = 7,150; 7,150/25,000 = 28.6%

Regards

SP