I am not as well versed as many others on this project who post here but I can read, listen and am prepared to do at least some of my own leg work.
My understanding is that the high grade feed will be blended to keep the process plant running smoothly. The fact that the ore is high grade means that there is not enough to run the plant continuously / smoothly using that ore alone (24/7)
The JV is 50:50 for the low grade tailings only, of which there is 12MT and will take 12 years under the JV to process. Cronimet has first right of refusal for offtake of any additional product not covered under the JV.
Given what management has done to date I would expect they have sufficient nous to ensure that when high grade is being mixed with low grade (for processing) the resulting product is correctly allocated according to value and ownership. (Give them the credit they have well and truly earned)
I am sure there are others who can put it more technically but I am not sure it will be properly absorbed in that format.
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