Ann: Expiry of BMCG funding facility, page-319

Hi Stirer,

can you please run the numbers so all can see.

the plant WKT purchased has a capacity (throughput) of 300k tonnnes.
mike states the TGC grade is ~15%

when Mike states he expects it to take 9 months to hit the recovery of 86% (40k tpa)

how can WKT achieve this after 4 months with only achieving 50% recovery?

300kx 50% recovery = 150t x 15% TGC = 22.5k tpa
300k x 100% recovery =300k x 15% TGC = 45k tpa.

can you see your error, you have assumed the plant is larger than what Mike has stated, or you assume the recovery is going to be 100% from day one or WKT will be processing a much higher TGC grade than the mine plan in the IRR report.

if anyone listens to your numbers, they are going to get burnt badly