Ann: Company Presentation - August 2021, page-7

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12/08/21

14:18

Post #: 55237238
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Originally posted by redned71: ↑

Ok, as expected he pretty much stuck to the presentation.
a few other bits did come out.
they’ve started on the beneficiation, which is good. No more details as to timing.
the sales so far have been to Europe AND Brazil. I wasn’t a fan of the Trafigura deal, but in hindsight it’s good. The testing with BSM’s is still ongoing and no word on when they might actually start buying. So without the Trafigura deal, we wouldn’t have sold anything as yet.
the infill drills are complete and all results are in. BUT, it will be H1 next year before we see the the new JORC reserve/resources statement along with the the LOM plan and production guidance. That’s very disappointing. But I guess it takes as long as it takes.
we won’t be at full production capacity until Q1 next year.

question on trucking. Up to 50 trucks a day at average 40t/truck for 2,000 tpd. That sounds like it’s the maximum. Again very disappointing, as it caps us a long way below 1mtpa & the 1.3mtpa is just a dream now. Even 365 days a year only gives 730,000tpa.
don’t know why they’d bother with the beneficiation, as they don’t seem to be able to ship more than that 2,000 tpd.
Pihrana, any input form you on this would be great.

nothing on step out drilling, but again, no need from that low trucking rate.

market unimpressed too. Down a little today.

this certainly caps the upside for this one for the foreseeable future, unless they can get more trucks per day.

cheers,

ned.

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Hi Redned
He answered the trucking question terribly. Basically said we can easily truck as much as we want given the amount of available trucks in the region, but he didnt expand on that. I hope this is not a processing issue i.e. we can only process 2000t per day. Or is port storage capacity an issue and are the clients holding off as the IO price drops. Its all speculative when it really shouldn't be.

TI1 Price at posting: 6.4¢ Sentiment: Buy Disclosure: Held
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Ann: Company Presentation - August 2021, page-7

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Ann: Company Presentation - August 2021, page-7

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