well well well
the BFS JORC spreadsheet now shows 214KT of NI JORC total.
The AGM preso reveals the adjusted mine plan and grade mix a very low 10-90 HG/LG with a large understating of the JORC & large reliance on LG pit ore -
Wheres the JORC for GS of 6,250t not just 4kt as in the slide, 2250t less than the JORC
Wheres the JORC for SS at 12,940t grading at 8.8% (see JORC in BFS below) not a lowball 5.0% grade at 9kt as in the preso, some 3kt & 3.8% grade less than JORC excluding all that extra drilling down there
The 1MT of BST tailings, is now finally shown in the slide page 16, total 5200T of Ni
yet nothing in the JORC for it & JORC never released
and the 2 large stockpiles in the pit bottom, apparently dont exist, another 5kt there
Plus additional 5k of Cobalt & 7kt of Copper no credits calculated at all.
So even on their figures 214kt of JORC at BS yet only 30kt of it produced in 4 years, LOL.
So 184,000T of JORC ignored or disappeared & 21 years of LOM ignored or disappeared?!
MST Access called for 8ktpa for 25 year LOM last year which was low ball.
Even at such lowball figures and using 10% of HG & 16% of the LOM & 14% of the JORC Ni production at only 20% of the total mill capacity thats making a MOTZA still.
Imagine if the medium case was applied instead of the low lowball case with LOM at 25 years at 12ktpa with 20% HG mix & keep drilling the HG & finding more as they have.
The margins and FCF would triple their figures.
Why is the BFS and preso so lowball?
Why only 4 years not more?
Why do they ignore the rest of that 86% of JORC at BSwan?
If the BS drilling finds another block of 300kt under the pit JORC then what?
4 year LOM for 50 years or crank up the production and mill throughput to get to 25 year LOM?
Massive room to increase production and FCF here imho.
BFS JORC spreadsheet-
Nickel Sulphide Resources JORC Compliance Cut Off Grade BLACK SWAN PROJECT MINERAL RESOURCE SUMMARY MEASURED & INDICATED INFERRED TOTAL Tonnes (Kt) Ni% Grade Ni Metal (t) Tonnes (Kt) Ni% Grade Ni Metal (t) Tonnes (Kt) Ni% Grade Ni Metal (t) Co% Grade Co Metal (t) Cu% Grade Cu Metal (t)
Black Swan 2012 0.4% 10,700 0.75 80,000 18,200 0.55 101,000 28,900 0.63 181,000 0.01 4,500 0.02 5,800
Silver Swan 2012 1.0% 138 9.00 12,450 8 6.00 490 146 8.80 12,940 0.16 240 0.36 530
Golden Swan 2012 1.0% 112 4.70 5,200 48 2.20 1,050 160 3.90 6,250 0.08 120 0.30 480
Silver Swan Tailings 2012 NA 675 0.92 6,200 - - - 675 0.92 6,200 0.07 460 0.04 270
Sub-Total Ni, Co, Cu Resources 2012 11,625 0.90 103,850 18,260 0.60 102,540 29,880 0.69 206,390 0.02 5,320 0.02 7,080 Stockpiles 2012 0.4% 1,200 0.49 5,900 400 0.53 1,900 1,600 0.5 7,800 NA NA NA NA Total Ni Resources 2012 12,825 0.86 109,750 18,660 0.56 104,440 31,480 0.68 214,190 -
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