AGM 13.11.18, page-95

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teddy_afro

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14/11/18

04:08

Post #: 36493209
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Originally posted by blu_afro: ↑

Attended the AGM today, my brain dump below. I'm only an option holder so was not allowed to vote or ask questions (got the proverbial red card ) Apologies in advance if I've mis-read or mis-represented, let me know if the case:
All resolutions passed.
Cash on hand to complete PFS
Bringing on 1 additional director.
Showed the LME price chart but referred to MB and Benchmark prices. The sooner we start to use the later as an indication of the market dynamics the better!
Western zone might add 40-45Mt at higher grades of Co and Cu. It should also be easier to mine given geometries.
Zn is essentially a byproduct
The SS NPV outcome is very sensitive to Co price and scale (LOM), due I think to U/G mining. Swings in a range of about $1.5B from best case to worse case.
Autoclave operating costs higher than roasting, but similar capex. Autoclaves require 6um grind, whereas roasting is in the 50-70um range ... power/$ difference
Roasting/water leach route generates sulphuric acid, of which they might be able to use the oxidised carbonate hosted ore to neutralise the surplus acid produced.
Have had end-user enquiries from Europe, North Asia (Japan and Korea), and they aren't ignoring China.
Regarding SS issues they indicated the ASX were concerned about:
justifying capex requirements
assumptions used for roasting flowsheet, which was based on conservative estimates from similar processes from a few actual Zambian producers.
Skytem report from Geophysicist due to be delivered to CLA this week.
I think they are looking to fast track met testing to enable opex and capex numbers to be delivered in March 2019.
66kV feeder to project is probably about 10-12 M USD
Pine van Wyck was present on Skype. Gecko does not have inclination/capability for a major underground mining operation.
Focus for PFS is to understand metallurgy and environmental impacts
Made an interesting analogy regarding Opuwo. It's more like building crusher/concentrator/LiOH plant(s) than opposed to just a crusher/concentrator.
As mentioned before recovery of Co from oxide ore is shite. They are looking at other gravimetric methods of recovering, but we need to remember it is on 5% of orebody, so needs to be a business case to develop/progress IMO.
They are flexible in terms of product suite metal/sulphate. Looking to sell Zn in Namibia (this is essentially a by-product so any sales are good for the bottom line), Cu into China, and Co to Nth Asia/Europe/China (to the highest bidder I assume )
BB is heading to Europe this week for discussions with interested parties.
The mineral resource update to include western zone and improve volume of the existing eastern zones (but not aiming to move from inferred to indicated volumes). Infill drilling would come after PFS.
Cautious about locking in offtakes as it would take the lustre off potential JV's or outright sales.
Considering the last couple of weeks BB seemed quite calm, not defensive, or arrogant.

I'll by converting my CLAO and holding until JV or sale, hoping it's at a bit higher price.

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and what's cobalt recovery for cla?
hope this stabilize the sp coz waiting 4 months to get figure might bring the sp down by impatient SH
CLA Price at posting: 5.9¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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AGM 13.11.18, page-95

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