This is why I feel the need to step in with some facts to assist the learners now and then, even simple math eludes them. Only 44.3% of that 1Mt out the wet plant is ilmenite "concentrate'. Then 17.2% is lost during the ilmenite upgrade process and another 10.2*% lost during the LTR roast. So only 33% of your 1,040,000t is slag ilmenite, or US$68,805,600 ... yawn, won;t even cover annual cash costs!
Still, there is a sucker born every minute and complicated stories are an easy sell. Called MRQ a sell at 2.7c Jan20 and happy to keep an eye on developments to see if time proves me correct. Monazite is indeed the new black in mineral sands, gone from a deleterious waste product (U&Th contam), to a minor credit in non-mag con sold to China, to now an outright premium product (see ILU).
BSE has much, much higher value assemblage (and great mon) but also has troubles with permitting negotiating a fair share with Madagascar, you know how difficult and corrupt African countries can be right. SS will try to put lipstick on the proverbial no doubt, and I'll be there to keep them honest. Lots of articles in the Fin recently bemoaning how little honesty there is in the junior sector with pumping and dumping these days, can;t be to careful me thinks.
Good luck
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