Ann: MRG HMS - Metallurgy Delivers High Value Products, page-2

54 likes so far and if anybody knows what it means nobody has anything to say. It means nothing much has changed, too many bag holders are stuck waiting for the next pump to get out and old rampers like @PICT given up drawing ridiculous conclusions and making outrageous predictions of head grade and assemblage value. Let's wheel in the fact checker...

"Significantly, the grade of Ilmenite product increased to 48.4% TiO2 from 46.7% TiO2compared to previous, smaller metallurgical samples (refer ASX Announcement 26 August 2020)."... yeah nah, below is taken from that 26 Aug'20 report, showing final post-roast ilmenite was 47.1% TiO2 not 46.7% ( 50% higher chromium levels need to be looked into obviously)


Today's report has stripped out most of the technical details required (weight % recoveries and analyses tables etc) to quantify the outcome and comp against previous work in Aug'20. Even the dimmest management learn over time, don't release enough rope to hang yourself right. No tables of various recoveries and assays provided through the recovery process steps like last time, but there is some data to work with. Obviously MRQ are determined to drip feed out selective results all the way to the PEA reveal (like pulling a band aid off slowly makes a festering wound any less painful). Starting with the HM concentrate (from wet plant spirals) we have


Only 33.3% Ilmenite from the get go, there's the main problem right there. Most of the THM assemblage is trash, most of the trash is titano-magnetite, which reports to both ilmenite as a contaminate (lifts tonnes but reduces TiO2 grade of post LTR 'Ilm" product) and rest to a Ti-Mag concentrate potential bi-product. On further consideration this Ti-Mag conc is worth little, the Fe is low @ 57% (typically aiming for mid-60's on any fine grained mag con), the TiO2 is too high for desirable steel production, too low for Ti-slag, and ~0.77% V2O5 is too low for vanadium production where market feed averages 1.5-2% V2O5 (eg Bushveld, **anintha etc).

Meh, can't be bothered this morning. Small rise in TiO2 % of Ilm almost within tolerance of bulk feed variation and constrained by Cr2O3 contamination and an inverse relationship between higher TiO2 verses lower tonnage LTR product (ie cut harder to remove chrome and increase TiO2 = more tonnes to LTR waste tails). I'll wait for whatever details management risk revealing in the PEA to put it all together.