Mining Weekly Post, page-87

Hi Croc, of course, you would only choose to comment on one paragraph of my post and call the rest "ramble". The admission serves to highlight exactly what I "rambled" about! The methods you use as a ramper to push your agenda you just substantiated! Evasiveness in not addressing the facts and the use selective hearing when it comes to presenting your side of the argument are telltale signs of a ramper.

Okay, BSM's strip ratio is currently 2:1 and TGC 5% thereabouts. We are in ramp-up phase and improvements are ongoing. Whilst our TGC is lower than WKT's insitu content, we have achieved benchmark FC in processed product of 94% and above as announced in last Qtrly. Beneficiation and purification stages of processing enable this vital achievement. So, our product is up there in terms of both FSD and purity of finished product. We are doing it albeit on a small scale and without massive debt. You said it yourself, Croc, that BSM at least has a path to profitability in a past post.

To compare BSM with SYR is totally unfair. Using SYR's non-standard definition, they are producing "Coarse Flake" (large and medium-sized flake) compared to BSM's 58% in equivalent terms. We are also a small producer, with lower costs (obviously) and with a tiny Mkt Cap. So, please don't insult everyone's intelligence by comparing us with Syrah. Chalk and cheese. The only commonality is the fact that they too have zero debt, per se. In fact, that says a hell of a lot. The fact that SYR is in production at least and without the debt noose around its neck, maybe its only saving grace.

So, this brings us to the strip ratio debate. I take your point regarding the cost ratio aspect relatable to lower TGC. More feedstock required to be processed therefore higher costs involved. It is hardly a gamechanger, though, Croc.

What is WKT's estimated, forecast strip ratios and recovery rates? I cannot seem to find them in your DFS.

The problem I have in debating with you is not so much my lack of education (although I admit I am not full-bottle yet on the technical and financial sides of things) but as a ramper, you take things out of context, don't acknowledge the valid points I do present and avoid addressing so many other facts that are listed but are dismissed as being "ramble".

As for the sheep-mentality that comes with the territory, I guess ignorance is bliss. Thanks, btw, Rolly for your compliment in describing me as "salty". Yes, if the stockmarket has done anything for me, it has certainly made me well "seasoned". As the quote goes, “We learn from failure, not from success.” I have had plenty of successes in the SM, but the biggest failure was getting sucked in by the ramping. This is what has put me on this path of DD. One cannot blindly accept what anyone says in this world of anonymity... not even what the company directors and management say. Management embellishes, exaggerates and uses hyperbole to make their rhetoric glow... half the time they get it wrong too and believe their own BS. As for your lesson in strip ratios, Croc, I intend taking it on board and storing it for future reference. One thing you have not mentioned in your tutorial, though, is the fact that strip ratio is highly variable (naturally) just as TGC and flake size is variable throughout an entire tenement.

Anyway, it is a shame you did not address the rest of the "ramble", but I guess that's because you simply can't address it. The fact is it really does not matter what high strip ratios BSM has or low TGC or how our FSD compares to WKT's, because the only difference that matters is that Bass is in production and its rates, metrics and sales are improving not decreasing like SYR's or going nowhere like WKT's. We are not just "talking the talk" but actually walking it!