Just re read my post and these two notes don't seem to add...

Just re read my post and these two notes don't seem to add up.

"4.5 year mine life producing a total of 320 K mtu of WO3 in concentrate."(pg 12)
and
" producing approximately 3,600 t of WO3 concentrate"(pg 8)

3,600t of concentrate is 360,000 MTUs If that 360,000 MTUs of concentrate contains 320,000 MTUs of Tungsten means each Concentrate MTU is at a grade of 88.8% Tungsten. APT GRADE! Obviously one of these is wrong.

Investigating further it appears the "3,600 t of WO3 concentrate" is wrong. It looks like a typo and should be 4600 (4636 t of Con production from the metrics on page 41) . Although I will note that they have all the concentrate grade as 68.3% which is pretty high. If they can achieve this then they will be doing great. However if the concentrate grade is lower then they will earn less which will impact the financials. Keep an eye on G6Ms concentrate over the years.

Higher grade ore does produce a higher grade concentrate. Going back to old KIS information it looks like they also used a 68% concentrate for all ore grades .55% - 1.01%. Looks like when changes came in and they decided to blend the low grade concentrate with the high grade concentrate the average concentrate dropped to 63%. Not sure what makes this ore special since its going through the same plant.