Hi Shellbell the similarity is your project is underpinned by vanilla markets and both failing to make a meaningful profit...Both have failed start up plans with one in a trading halt and the other out drilling for higher grades at surface..Good luck as 5% TGC just wont cut it in a competitive environment always making less margin per ton mined...
Why is 5% TGC so bad when comparing to WKT 17.9 TGC over life of mine currently 24 years....?
The facts that Shellbell does not like...Low strip ratio is meaningless with grades sub 5% TGC and offers no value in graphite.IMO
Example only as BSM only delivering @ 6000 TPA
Lets do an example and gift BSM a mining cost at $25 per ton and gift BSM our basket price @ $1500 per ton delivered
1000 Tons Strip Ratio 2:1 (Mine cost $75)
(Moved three ton's of material for 1 ton of graphite grade 5% TGC)
1000 tons thru plant @ 5% TGC x 95% recovery = yield (47.5 tons)
47.5 tons x $1500 = $71,250 revenue less ROM
1000 Tons Strip Ratio 4:3 (Mine cost $107)
(Moved 4.3 tons of material for 1 ton of graphite grade 18% TGC
1000 Tons thru plant @ 18% TGC x 95 % Recovery = yield (171 tons)
171 tons x $1500 = $256,500 Revenue less ROM
Even though the above example is generous to BSM it demonstrates the education required by Shellbell not to focus just on low strip ratio as a measure of value,educate more on high grade/distribution advantage to achieve a premium basket price...
One can see strip ratio @ mining level is a minimal cost while processing cost's can be cut by 3 times from select mill feed.Only a high grade resource can achieve this to select mill feed.
No Rambles just facts, no ramping required just facts on how strategy and resource differ from one to another...
Croc
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