Key points:
1/ SS recovered only 108kt Ni, wasbased on ONLY:
a/ Ban Phuc DSS, drilling cutoff July.
b/ treated through new 4 or 6mtpa new mill.Plus d/stream.
2/ But intention is coming PFS [Q12021?] will:
a/ ADD post July Ban Phuc, ie ongoingKing Cobra
b/ ADD: part of 3 more satellite orebodies[adding MSV and some extra DSS?] esp. ongoing Ban Chang, also Ta Cuong, and BanKhoa / King Snake.
c/ ADD restarted existing 450ktpa mill,to treat higher grade MSV from BC etc,
PLUS the 4 or 6mtps new mill for DSS,
Thus major change in planned prodnconfiguration, run TWO mills.
d/ hence also add Cu and Co credits.Maybe PGE later.
So PFS will be major revamp, and will „recover“a lot more than 108kt Ni.
3/ Hence resources are coming for
a/ extra King Cobra [ie revised B Phucresources];
b/ additional 3 satellite orebodies, ie allfor inclusion in PFS.
Being satellite deposits the bar for achievingeconomic resources is lower than otherwise.
4/ Exploration. Total targets are approx.25 plus whatever new ones are found.
Intention is to drilltest [at least broadly] ALL these targets in next 12-18mos.
Not least to make sure initial mines are right ones.
5/ Vietnam, good jurisdictiony ANDspecific big opportunity feeding in country battery plant etc
6/ Importance of offtaker Ecopro support,also re debt finance. Also E do not have exclusivity on offtake.
7/ Given EV demand outlook BSX can look to sellevery lb of Ni they find, by extending life and increasing scale.
