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33.0¢ magnetite mines limited.

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BaconLover

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25/11/20

01:24

Post #: 49117588
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Originally posted by Stocki: ↑

Well spent some time looking into south american copper based minings on trial of bulk ore tech. Remember please dis tech use xray/infrared for the sorting of mineral. Significant improvements were seen with the accuracy of 80% . However next ore is completely different then other bulk sorting techs. As mentioned above they use xray/infrared based tech which are not really accurate, not fast enough. The rays only goes through the skin of the mineral and decides to treat it either a waste or a mineral. As a result alot of waste goes into concentrator , resultantly power and water wastage etc.

next ore is using MRI detector similar in concept to medical based MRIs. It penetrates into mineral, gives you clear and accurate info on the ore with 99% of accuracy. Its fast and gives a high grade quality raw magnetite into concentrator so huge savings on water and power etc. Next ore is equally suitable for gold and, copper based minings. It would bring revolutionary changes. Top tier companies are also in process of trials. (names were not mentioned) but if u look at recent interview chris beal also mentioned dis without naming the companies.

Now just giving you a breif info on FMGs operating cost. FMGs C1 (operating cost) in 2014 were around $45/t WMT (wet metric ton). It managed to bring it down to $34 and later to $15 wmt in 2016. Now was reading through there annual report published in Feb 2020. They further managed to bring it down to $12.94 WMT. That is a remarkable achievement. The time when the ore prices were in $40s back in2014-2015, they were able to survive and today at $12.94 t. They are pocketing hugeeee profits. Now to answer that exactly how they did it requires studies their OPEX per ton analysis which i will see sometime in future but mainly they did it via contineous improvements, checks and management.

we had cash based operating cost of $69 per ton back in 2013. PLEASE NOTE THAT IT IS UNDER NO WAY COMPARABLE TO FMG. FMG started it operations around $50s per ton. The $69/t OC of MGT was based on bulk ore mining tech back in 2013. Selective mining IMO would significantly lower this cost plus we all know the use of next ore would be extremely beneficial. The prices of ore are also much higher these days and making razorback more attractive. Imagine if they bring down the cost to $40-$50 to start with, with a production quality of fe68.8% of magnetite ore with higher ore prices currently around $130/t, it would be really attractive for investors. It is possible, they are now using existing infrastructure for the delivery etc and using ground water+next ore+ selective mining. Fingers crossed. DYOR.

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Good work Stocki.

Regarding NextOre, I thought MGT had exclusive rights to use NextOre for 4 years? So why is NextOre allowing other companies to test it?
Or does it mean, those companies can test it, but cannot use it for production until the end of this 4 year period?

MGT Price at posting: 1.0¢ Sentiment: Buy Disclosure: Held
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Last 33.0¢		Change 0.005(1.54%)		Mkt cap ! $32.48M

Open	High	Low	Value	Volume
33.0¢	33.0¢	31.5¢	$6.771K	21.16K

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MGT share price, page-543

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MGT share price, page-543

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