LTR: Short squeeze coming for shorters - 2nd highest likelihood in all ASX, page-5035

Hey there,

I feel the need to clarify some of the statements made in the previous post that has been quite twisted in followup straw responses. It was https://hotcopper.com.au/threads/ltr-short-squeeze-coming-for-shorters-2nd-highest-likelihood-in-all-asx.7186492/?post_id=76054543&embed=

In particular I want to focus on the DSO stockpile.

Let me be clear, it is a great option to enable the processing of the DSO that was not initially intended to be concentrated by LTR. That said, going by experience, sorted ore has tended to be more difficult than clean pit ore.

@Egeria has written at length about the specifics of flotation and what makes it complex. If you are seriously interested in the flotation variabilities etc, I suggest you do a search for his HC LTR posts. He explains that part of the plant process far more succinctly than I. It would be a mile long if I tried.

What I was trying to explain is that contrary to many posts blaming low grade rubbish OSP ore for a SC5.2 grade product, IMO this is not the case.

I wrote, in part: "I have also read talk that LTR is currently processing rubbish ore... even to the point some state they are commisioning the plant with the low grade ore that was intended for DSO. Of course that is nonsense. Perhaps some of the DSO pile is making it's way through the plant, but it would have been through the mobile sorter that has so far been shown to only be capable of quite small quantities. If LTR is following industry protocol, they will be processing the highest grade material they have stockpiled."

Now I wrote that perhaps some of the DSO pile is being used because it is possible they have since 30th June 2024. There were some earlier announcements that the OSP ore will be sorted to supplement commisioning and rampup. However by the time the wet plant had been commissioned, none of the sorted OSP had been used. So, the only part of the LTR OSP announcement to be publicly known as accurate is that OSP ore is being sorted to remove host rock. The July 31st announcement of first production made no reference to OSP. Instead it referred to 216kt of clean ore from open pits.

I stand by my opinion that LTR has been using the best available ore from the open pits - not the OSP - for commisioning & rampup. It has already been made clear from LTR announcements that no sorted OSP was used to commission.

The overall point I was attempting to convey is that LTR intended to use clean OP feed initially (prior to any talk of DSO) and that in the past many many posters were clear it would meet the grade of SC6.0 without the need for higher grade UG ore. Lately the tone has changed to blame the OP or DSO ore.

My perspective is that management is being savvy and producing to a grade that maximises recovery rates and is most economic, while still conforming to customer demands.

I also think it reckless the way some have primed holders to expect more out of the plant than is likely. No doubt excuses / misinformation will follow if targets are not met, for instance, they are using the DSO material when clearly they were not.

Taking LTR's own forecasts / assumptions, and rewriting them using more favourable metrics is reckless, but regularly occurs on these threads. It likely only serves to prime holders for disappointment. What LTR has released does not require embellishment IMO. It is a good project with a great plant.

GLTAH

Screenshots in order of most recent first.