mak deposit equals that of ipl, page-54

Well done Patty. You seem to have managed to annoy JDVictoria which would seem to me to be almost impossible to do. His posts are always rational, well researched and never, ever personal.
The problems I have with today’s announcement. A major point – Minemakers has Australia’s biggest phosphate resource of 461M tonnes – who the hell actually cares – are we all planning to be here in 150 years? This is not a resource upgrade as put to the market – this is a resource increase. So what if it is Australia’s largest?
Our friend JD has said that he has taken offense at some parties suggesting that MAK have been misleading. Well I am sorry JD but I am going to offend you again – they have absolutely been misleading – and as recently as the last 60 days. You can argue whether it was deliberate or not, certainly, but look at their figures presented in October and early November and now look at them. They are vastly different. In October announcements advised that there would be virtually no capital cost and operating costs between $50/t and $100/t. Now we are at $75M to $100M – before beneficiation plant – and an operating cost of $150/t.
This, in my book, every day of the week, is misleading. At best you could call it premature – a Board should never have approved the release of it.
DSO – if we look at the lithological subdivisions, there is 18.1M tonnes of transitional phosphate at 25.3% P2O5. There will be other significant grades within the other lithological divisions. However there is not an obvious zone that is going to lend itself to DSO at this stage, and hence not obvious tonnes that will be DSO tonnes. If they mine and sell dso, it will be at a significant discount to beneficiated ore, and the economic equation will lend itself to going direct to beneficiation. DSO is not an easy thing, and I am betting that they will need to go straight to beneficiation. I will not rule it out, but it is a difficult and costly exercise trying to pick the eyes out of the orebody – both from P2O5 grades and reduced impurities. It may be viable at higher prices, but unlikely at lower prices.
The reports are getting closer to the truth, but from whence they have came within 2 months I am not sure if I would yet feel comfortable with the costs announced. I will say I think they are trying…