Yet again some great points. I have to admit I had consumed a few VB's myself at the time of posting so I did make some oversights. Thanks for clearing up some of those issues. I feel like I learn something every time you post.
Firstly I made a mistake when I said ore and actually meant contained tonnes when I was referring to RNU's resource.
Also, on closer inspection of company announcements, it seems like the 105 k tonne figure is what's needed to produce the 28,000 k tonnes of PSG, so quite rightly a lot more concentrate needed now. If we use the same ratio of 28k tonnes PSG / 105 k tonnes concentrates this equates to 225k tonnes concentrates now needed to produce the upper limit 60 k tonnes of PSG that is currently in MOU status. These figures are from 2019 so improvements from the optimisation testwork may have changed this.
40 years x 225,000 tonnes concentrates = 9 M tonnes of concentrates needed over LOM.
To produce 9M tonnes of concentrates (94% recovery) you need a minimum of 9,576,000 tonnes contained.
The above example takes into account flake sizes reducing the total amount of useable feedstock but your point about size was one I completely overlooked. Not all of the contained graphite in resource will be useable. In Renascor's case 72.4% of the flake being small size will be useable according to this table from the 2019 DFS. Since the DFS, optimisation testwork and the expanded capacity feasibility studies may see improved recoveries of the ideal flake sizes.
So for 105,000 tonnes of concentrate about ~76,000 tonnes will be sent to the PSG plant to produce the 28,000 tonnes of PSG IMO. This correlates with what you mentioned re. 2 to 3 tonnes concentrate to make 1 tonne PSG.
So yes, you are absolutely correct my inebriated self was way too simplistic in my calculations. It seems like we will need to start firing up the drills to upgrade the confidence levels of our existing resource, and also to uncover some more tonnes at the nearby anomalies if we are to have a 40 year mine life. I have no doubt the tonnage is there, but it will take a fair bit of drilling to define it.
Anyway I'm just a mug punter who does his research and can get it completely wrong so DYOR.
GLA
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