Hello. Today's announced averaged 11% HM. The previous announcement from the samples averaged 4% titanium per hole from 65% titanium content in HM (6.15%) with 21% rutile. Therefore, the rutile content of the previous announcement was 0.84%. Therefore, from today's 11% HM, the estimated rutile based on the previous announcement is 1.5%, i.e., 11% x 65% x 21%. Unless the new coming drill holes for the old drill holes announced previously are different, the average rutile content over the last two announcements is 1.2%.
But this is not the issue. The issue at the moment is:
1. 75% of the PTR HM is 'pseudo-rutile', i.e., 66% titanium content fused with 33% iron content. This titanium & iron cannot be separated by PTR. They must sell a 'pseudo-rutile' product generally called "ilmenite".
2. Whether the 21% rutile can be easily separated from the 'pseudo-rutile' remains an unknownat this stage.
3. We do not yet know how much rutile PTR can recover therefore it is inappropriate at this stage to compare PTR to SVM.
More importantly, SVM has GRAPHITE with their rutile. SVM have estimated the OPEX will be US$404/t (FOB); including $98/t in transport costs. SFX estimated in their DFS their OPEX will be US$135/t. The production process PTR will likely use is closer to SFX.
To add, SVM has JORC resources of 1,809Mt of 1% rutile for 17.9M tonnes of contained rutile. In the 100% PTR owned area currently drilled, PTR may have 264Mt. Over the entire PTR plus JV area, PTR may own 450Mt, depending on drill results.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
with their rutile. SVM have estimated the OPEX will be US$404/t (FOB); including $98/t in transport costs. SFX estimated in their DFS their OPEX will be US$135/t. The production process PTR will likely use is closer to SFX.
(20min delay)