“WoW plonka, that's getting up there with gtc61. How did you...

“WoW plonka, that's getting up there with gtc61. How did you calculate that the OPEX cost could be lower for EQR”

It is just MY expectation based on it being underground vs open cut, No XRT sorters, flotation process in the plant (I believe Saloro do too, EQR does not) and I don’t expect them to get the 85% recoveries. There were no calculations. We could refer to the BFS numbers but as we have seen with EQR the proof is in the production not the plan.

“they only need to process 640k t to produce 200,000+ MTUs.”

For context EQRs latest quarterly has:

Plant feed at 70300t at Mt Carbine for 26,000 MTUs. So that's 280,000t processed for 100,000+MTUs annualised, so very comparable to the on paper numbers for Sandong.

Saloro was 225300t at Saloro for 28,000 MTUs coming in at 900,000t for 110,000+MTUs annualised.

Yes this is only referring to PLANT throughput not mined tonnes.

We already know Saloro had record production in October which is based off of increased recoveries. Kevin has recently stated they are looking at introducing another XRT sorter at Saloro which will increase grade and reduce throughput. And recoveries are still going up at Saloro but that will not impact the throughput rates. When Mt Carbine hits the higher grade ore (mid next year???) then we can expect that 100,000+ to jump substantially. I am not sure if the higher grade ore will have any impact on the throughput rates.

“Also if there is a market for more concentrate, the plant at Sangdong is being built to process up to 1.2 million t. So the cost per MTU will continue to fall as it rams up.”

The up to 1.2m t is phase 2 which requires a further $65m of funding. Based on their latest presentation operating expenses will be at a similar ratio between phase 1 and 2.

$27m/2300t=0.01174

$53m/4750t =0.01116