Factors that have changed since BFS:
-Ore Sorting success on grades down to as low as 0.05% WO3.
I wonder how much of a direct connection the above has with the recent news of a third Tomra X-ray sorter planned to be added by the end of the year?
The BFS phase 1 has 1 Tomra Ore Sorter (pg 15) and phase 2 has 2 Tomra Ore Sorters (pg 35).
The addition of the third X-ray sorter I expect maps directly to pushing more low grade ore through the sorters based on a larger open pit resource. It may reduce the max profitability in a given year but if it extends the mine life and adds $ to the NPV then great. Unlike the waste/LGS this low grade ore is all EQRs. The updated BFS should give the overall project numbers a good upgrade. The news regarding the third sorter makes me inclined to think that the EQ team is very advanced in their BFS upgrade process. With any luck the upgraded numbers gets some of the naysayers, due to only including 15% of the known resource in the BFS, interested.
A few things in the pipeline for the next 6 months
-Updated resource (western extension)
-Updated BFS (including western extension/halo open pit extension)
-Third Tomra Ore Sorter Purchase/Commissioning
-New tertiary crushing circuit installed and commissioned
-Ferrotungsten news
-Confirmation of new throughput rates in quarterlies
-Updates from the Early Engagement contract for Open Pit mining
-Second half 2022 exploration plans/start
-Tungsten price change
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