Ann: Development Progress - Lindi Jumbo Mine, page-4721

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Farmdownsouth

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15/05/24

10:31

Post #: 73830542
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Originally posted by spid81: ↑

Hi Sirrrobbo,

Jinpeng must be getting close to hitting the 2 days of production where they are paid their balloon payment of $700k USD,

From that point WKT will be handed over the keys to improve the production and try to hit those all important purity, flake size and production rates.

Its going to be interesting to see the results of the first production from the processing facilities then see if these specifications can be achieved when they process the fresh mineralisation.

@SpareCash7 Keep looking back at WKT's old announcements to see if they gave other claims of being fully funded until production, It will help @semi retired with his evidence for his lawyer,

@Gammat is everything okay, after @nameslittle corrected your assessment of WKT's requirements to pay the interest on the US$20mil fully drawn loan, you have gone missing and haven't updated that spreadsheet of yours which showed WKT would run out of funds during July, By memory you showed no interest payable until September, I am keep to see your updated figures with interest payable monthly to see when you think WKT will run out of funds.

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When it comes to the process plant they have been concentrating on throughput which is fair enough. The next step will be to look at recovery, purity and flake size distribution but I can see that proving difficult due to the lack of understanding of what the grade and flake distribution is of the stockpile on the ROM. Do they know what the grade is based on clise spaced grade control drilling or are they guessing based on a few grab samples? Perhaps theywill just assume reserve grade? I would argue that the critical next step of optimising plant performance requures high confidence in the grade of what you are feeding it. I do hope they have a regular conveyor belt sampling regime with quick turnaround of assays.

WKT Price at posting: 12.0¢ Sentiment: Sell Disclosure: Not Held
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