Ann: First graphite concentrate shipment from Lindi Jumbo mine, page-152

Repost with the additional information required.


Hi Sparecash,

I agree with your assessment that the processing facilities have been operating on a 24-hour basis for close to one month, (3.5 weeks)

Source: Mike Elliotts Tweet from the 13th of May 2024




Friday's announcement showed they have achieved ~30 bags (photo) that are within the specifications that were ready for shipment, this is significantly below the plant's expected output of 110 bags per day (2700-3580 bags should have been produced over these weeks), WKT detailed "Currently, any product not meeting specification is reprocessed as determined by the Lindi Jumbo on-site laboratory."

Source for Output of 110 bags per day - Mike Elliot Tweet 27th of May 2024 - 365 x 110 bags = 40,150 tonnes pa

WKT also stated "Once the throughput targets have been met the team will turn its attention to the end-to-end optimisation
of processing circuits to consistently achieve customer product specifications." and "Commissioning team currently focused on improvements in plant performance, availability and utilisation"

Seeing the photo below is confirmation of the issues they are having.



Figure 1: Lindi Jumbo bagged, on-spec flake graphite concentrate awaiting shipment at the Lindi Jumbo loading hold

I have noticed that both you and @sirrobbo have stated the plant is recovering 20% of the contained graphite, where did you get this number from?

I presume you haven't made this number up and WKT has provided the figure to you as it is not part of the announcement,

When you run the numbers from Mike's tweets, the plant is operating close to 840t per day, x 17.9% TGC feed x 20% recovery (that you claimed) = 30 bags of graphite per day,

Over the 26 days 24 hour production, WKT has only 30 bags of in-spec graphite (photo above) and the plant should have produced 720 bags of graphite (assuming your 20% recovery is correct). I can see why you are trying to cloud the forum with inaccurate information to help hide the plant is operating so poorly.


Sirrobbo, repost from last night with the additional information required.

WKT has plenty of output, the issue relates to providing a finished product that meets the desired specifications.(which will be purity)you all thought this was going to be easy, sadly you were mistaken, getting a graphite mine running up to to its nameplate capacity and meeting all the specs is very difficult, Jinpeng has been processing graphite for 35 days and has only achieved 30 bags that are within the specifications.

The numbers dont lie, WKT production has been around 1% of its forecast production. time will tell if they can resolve their issues and operate profitability.

@Gammat thought WKT would generate sales in line with the operating costs, which was a false assumption.

The March QTR Cash flow report showed WKT Only had $4.15mil left, We know WKT is paying around $480k per month in interest on its loans to Gemcorp, WKT also needs to pay for its mining, corporate, listing fees, and other consultants and contractors.
WKT confirmed in this announcement Jinpeng final payment will be in shares. It is concerning that WKT hasn't drawn down on Gemcorps US$5mil to pay Jinpeng their final payment of ~US$500k, Is there an issue with accessing these funds or will this facility provide WKT the US$5mil they require for the 2 QTR of loan repayments to be held (at all times) to comply with the Gemcorp loan terms?

It is all looking very desperate by the WKT promoters, they don't appear to be able to come to terms with the low output of "In Spec" Graphite being produced at Lindi after the processing facility's first production of graphite 35 days ago, It is also interesting that WKT doesn't detail what the flake distribution being achieved with these in-spec bags.

I can fully understand why the SP declined on Friday, there seem to be significant issues with producing in-spec graphite at the lindi jumbo mine. Time will tell if WKT can resolve these issues or if they become another unprofitable graphite mine to be listed on the ASX.



To address the concerns of the 840 tonnes per day claim, below. WKT advised in their ASX announcement on the 20th of September 2021, the plants capacity was 840t per day.
Source: https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02423324





Hi Sparecash,

I don't really care if Mike thinks its satisfactory,

Based on his numbers the plant is nearly running at full capacity, which is around 840 tonnes per day throughput.
Yet after processing for 35 days WKT has shown in their announcement ~30 bags of graphite which meets its customer's specifications.

Anyone would think we are discussing gold, where a few bars here or there would be impossible to tell, But we are talking about bags of graphite, You can tell the output (graphite that is within specifications) is extremely low. over 35 days the plant should have (if operating at full recovery) 3850 bags of graphite, yet we are only seeing 1% recovered.

You guys need to do some math lessons and learn about how a graphite mine works, Just because you pump material in one end, doesn't mean you have a salable product at the other end, that is why WKT is reprocessing the low-quality products. More processing equals small flake sizes which lowers the basket price WKT will see.

SYR 2.0 is coming.