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LTR - mining Vs Take over or bought out, page-118

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CaptainCrunchy

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18/02/24

08:29

Post #: 72466408
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Originally posted by Acgm: ↑

Not correct. Stage 1 is KV from 500-700ktpa. Stage 2 is downstream development. Stage 3 is realising LTR full potential (as in development outside KV project). Source - DFS.

Mine development plan included open pits in Kathleen Corner and Mt Mann (which are being undertaken by Iron Mine Contracting) as well as underground via portals initially at Mt Mann open pit and later in the mine development via portal from deeper in the Kathleen Corner open pit.

Mine plan optimisation last year resulted in reduction in size of Mt Mann to just the portal to underground (now competed) and some expansion in the Kathleen Corner area (and that accessed some higher grade ore from Kathleen Corner which is now stockpiled on the ROM pad (and more being added daily) in advance of commissioning dry plant in coming weeks and then commissioning of wet plant and onwards to sales.

Underground plan initially designed to support 3Mtpa mined ore operation for 500ktpa SC production. Expansion plan was to develop more underground capacity and expand process plant to 4Mtpa after about 2 years of operation. That was brought forward to start with 4Mtpa capacity but more recently announced to no longer being brought forward - well the extra 1Mtpa underground mining capacity aspect was that announcement, I understand the process plant is still being built ready to handle 4Mtpa so it is ready when later we upscale the underground operation to suit.

There is no “stage 1 is open pit” or “underground mining stopped”. Yes open pit has started developing and delivering processable ore (not just overburden and yes underground has the portals to dig to starting points for underground to producing spod output - but that has always been the plan from the DFS onwards. Early spod has anlways been planned to come from open pit source while portals are dug to access underground spod supply. All that has happened recently is a decision to reevaluate when the expansion from 3Mtpa to 4Mtpa underground production might happen. Sounds prudent to me … I mean other producers are cutting back on supply they are pushing into the market (maybe that will cause any games being played at the converter end to be reevaluated), so why not bring LTR output also in line with that to our originally planned, scoped and in the DFS “reduced” output of 500ktpa, I mean our three tier one offtake customers have less than 500ktpa thus far contracted - why dig and develop more now if later we can do that and sell that extra volume for more than we could “now”?

So, please show your source for your claims that underground mining has been “stopped”. I’m pretty sure your source will be news to mates at Byrnecut and also to TO.

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Don't bother with this person mate. His/her money is now with the Mali government

LTR Price at posting: $1.18 Sentiment: Buy Disclosure: Held
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LTR - mining Vs Take over or bought out, page-118

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