Scott M in reading the above it would seem my original take and...

Scott M in reading the above it would seem my original take and resulting comment is off. This reads as if the yields being discussed is just that of the ore sorting output which makes sense given the Announcement title.

So hopefully the below is correct. Not financial advice.

Previously 100 tonnes of LGS ore goes through the Xray sorters yielding a mass between 10-12%. Lets take the upper limit so 12% was capturing 90% of the tungsten contained in the ore.

Now we have 100 tonnes of open cut ore going through the Xray sorters yielding a mass between 15-18% again lets take the upper limit so 18% capturing 95% of the tungsten contained in the ore.

In the Announcement "43% INCREASE IN MT CARBINE ORE RESERVES FROM WESTERN PIT EXTENSION" on the 18th of May 2023 - page 9 there is the following Table.



Simply converting the Ore Sorter Tungsten Recovery from 90% to 95% and only applying it to the 64% Coarse Mass Split fraction of the ore the total Tungsten Recovery will have changed from 80.3% to 83.268% if my numbers are correct. Which is a total improvement in recovery of 3.58%.

Of note however is that the processing plant has to deal with 18% of the original ore tonnes not 12%. I am not sure what this means to overall profitability but an increase to overall recovery I expect is a good thing.

If we add the average grades to the equations it is:

100 tonnes at .00075=75 kgs of pure tungsten at 12 tonnes containing 90% 75*.9=67.5kg of tungsten in 12 tonnes of Xray sorter output. A grade of .56%wo3

100 tonnes at .003=300 kgs of pure tungsten at 18 tonnes containing 95% 300*.95=285kg of tungsten in 18 tonnes of Xray sorter output. A grade of 1.58%wo3

If we go a 50/50 blend heading into the sorter and assume yield of 18%
50 tonnes at .00075=37.5 kgs
50 tonnes at .003=150 kgs
100 tonnes ->187.5kgs *.925(assume mid way between LGS and Opencut) =173.4kg of tungsten in 18 tonnes of Xray sorter output. A grade of .96%wo3

Like always this is just some back of the napkin calcs for fun. Do your own research and GLTA