Hello. Very importantly, based on the five samples processed in...

Hello. Very importantly, based on the five samples processed in the past, the IVG "flake size distribution (concentrate size fractions)" quality is good . its is not as good as BKT but it remains good (much better than SYR, which i had to guess below for 23/4/25. Originally, in 2015, SYR said they would produce 67% of the product at less than 100 mesh however SYR's last annual report appeared to say SYR is producing 80% of product at less than 100 mesh).

I guess various economies of scale may possibly make the IVG product more profitable than BKT. Note: The small flakes receive a low price but are suitable for batteries.

I estimated below the "basket price" may currently possibly be around US$924/tonne for IVG, compared to BKT's US$966/tonne. Currently, SYR are receiving US$683/t however 80% of SYR's production is less than 100 mesh size.

If due to its possible very wide deposit widths and much closer proximity to port, IVG can possibly save US$120/t in OPEX compared to BKT, then its profit margin might be better than BKT's.

BKT Operating costs from 10/10/22 eDFS are US$466/t (but now at US$518/t AISC ). Note: BKT had US$118/t in transport costs and $191/t mining costs. BKT is 450km to port. IVG is 30 km from rail and 200 km via sealed road to the port of Dar es Salaam. I image, due to enormous scale and deposit widths, IVG could save $60/t in mining costs and due to location save $60/t in transport costs.