"Another complication for the Mayoko project is that the resource is below expectations, hence the need to lift volumes" - Exxaro statement from the article , what is their resource look like .
We have 160mt 35.5% fe from Friable hematite and colluvial ore and after simple upgrading produces a valuable 64.1% Fe “Mayoko Premium Fines” product. Other resource we have on top of that 160mt is Hard Hematite 23mt and Magnetite BIF 735mt . Only 21km drilled of 47km of identified iron strike.
When Exxaro took over African iron this was the resource below, what product are they shipping, is it DSO 55% , is that what they are complaining about because that product is discounted to the 64% stuff . Looks to me Exxaro need our resource.
44Mt @ 55% Fe DSO (supergene hematite)
77Mt @ 41% Fe bDSO (enriched BIF)
EQX Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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