Hi SBDavis,
Mike advised the plants capacity is ~110 bags per day, based on 365 days = 40,150 tonnes
If you didn't know, graphite is sold per tonne, If they are over filled there is not additional payment required.
What is concerning is the promoters personal attacks and their complete lack of understanding.
WKT stated they produced their first bag of graphite on the 2nd of May, WKT put out an announcement on the 7th of June detailing they have finally sent their first shipment. All you need to do is look at the production WKT had ready for shipment, there were approximately 30 bags of graphite, it was 5 weeks between the first production and Fridays announcement, 5 weeks x 7 days - 35 days production, to only see ~30 bags instead of the 3850 is pretty telling the output it dire as it is only running at 1% of the planned output. If you use the date of when WKT moved to 24 hour production, the output does slightly improve. It was approximately 21 days production days, Which should have produced 2310 bags of graphite considering they produced only ~30 bags, this is only 1.2% of the plants forecast output.
You can tell the promoters understand how dire the output is, they are more concerned about bridges, how many trucks were used, or future costs savings from the company having grid power ect ect. This is a moot point when the main issue is the production facilities ability to produce inspec graphite.
WKT clearly stated in their announcement.
"with bagged on-spec product accumulated in the load out area ready to be transported to port. Currently, any product not meeting specification is reprocessed as determined by the Lindi Jumbo on-site laboratory."We all know if the laboratory is rejecting the final product, once it goes through additional processing the graphite flakes will be reduced in size. we don't know how many bags are being rejected due to failure to meet specifications.
Let that sink in, based on WKT's current output of inspec production the plant is running at ~1% of the planned output, we have the day dreamers claiming the OPEX will be inline with WKT DFS or Bench Markets assessment, its impossible for these forecasts to be achieved when the plant is not performing as well as expected.
@Stirer - Does WKT need to get the Kero out to help liberate those flakes?
Is WKT having major issues processing the surface mineralisaiton, it will be interesting to hear if WKT is having issues with clay. I think it was BSM who had this problem with their plant.
Anyway, the best solution to avoid this problem would be to focuse on the fresh mineralisation. Which makes up 97% of the planned production, either way it seems there are some major issues with the processing facilities to have such dire output in the loading bay. Don't forget WKT stated they only expected wet commissioning to take 1 month and we are already 5-6 months into the process.
@SpareCash7 - Have you considered BMCG has refused to provide WKT with the addtional US$5mil, I thought I read somewhere this facility has an expiry on when WKT can drop on the facility,
(20min delay)