Now that I've caught up on all the pages of comments , here are my initial comments and observations in regards both the cap raise announcement and the Investors ASX company presentation as follows :
I've already mentioned the " expand and grow its highly strategic Northern Hub resource base. " comment by Lynch which is a BIG one for me when you start to really look into the potential expansive holdings , and the nearology potential partners in the surrounding Areas at Moblan and to our North at Whabouchi.
> The Placement will take place in a single tranche and fall within the Company’s placement capacity under ASX Listing Rule 7.1 . This is important because they effectively still have 10% capacity limit available as a LARGE ASX market cap company
> The Placement is non-underwritten . This is BIG as well because it indicates the obvious ' appetite ' for such a largish capital raise.
Moving onto some of other more general observations :-
Look , I'm no engineering expert , but what I believe I can interpret and separate from the BEEFED up flow-sheets and the descriptive ' add on's' and upgrades is what looks to me and would appear to be the ability to step up the throughput and at the same time improve the ' Fine ' quality necessary for blending and producing the battery grade end products at NAL.
So if you look at the BULK twin storage silo in the flow sheet which was pre existing and which highlights 2,000 tons of crushed ore as the beginning indicator of capacity. So I remember reading somewhere of the number of hours necessary for ore to go through the whole flow sheet process. And I seem to remember something like 5 to 7 hours or something ( would need to have this confirmed )..
So let's assume it is 8 hours. If we then tie that up with the additional virtual ' Doubling ' of the WHIMS as well as insertion of what was a previously non existing LIMS in the former processing flow sheet ....you then arrive at whatever they mean by ' upgrading ' the FIRST stage High Density conditioning tank.
So it would seem to me that the intentions are to step up and increase the throughput speed which in turn will increase the capacity from the already existing nameplate in place on the other less ' governing ' assets which remain the same from the previous flow sheet.
So somehow I can't simply believe it is ALL just on account of the requirement to ' Blend ' other ore grade inputs in order to get more or less the same result as before.
> Addition of a low-intensity magnetic separator (LIMS) prior to wet high-intensity magnetic separation (WHIMS)
> Addition of a second WHIMS in series with the existing unit prior to flotation
Another observation is this in regards to ' Ownership and Operator of Mining Fleet ' :-
> In 2026, the assumption is that NAL will purchase a mining fleet to begin an owner/operator operation starting in 2027 for the rest of the mine life
So this begs the question then as to both what is going to be currently used at the NAL operation from the first quarter of 2023 to 2026 , and then how much of that LOM estimated cost of A$196 million for Open Pit mining contractor( ie Drivers etc...) PLUS the additional A$127 million for tailings , transport and placement is eventual SAVINGS and / or how much is representative of owner operated fleets costs from 2026 .
But it must be something for them to specifically make this statement and the quote an effective start date of this meaningful and structural change and the potential impact on forward operations costing's. Are these estimates then for the owner operator fleet , and are they already in these figures ?
> I notice as well the A$115 million for transport and logistics costs in the PFS breakdown. Is this for transport of ore coming from Authier or shipping it ex NAL mine gate and FOB elsewhere , or for Internal specific existing contractual arrangements charged by outside fleet requirements and cartage withing the NAL mine site or between Authier and NAL ?. Whatever the case , there seems like they are indicating there is plenty of savings from moving this function over to ' Owner Operator ' fleet.
> First Ore from Authier not penciled in until 2nd Quarter 2023 with NAL restart being on its own merits and ore in the beginning of the 1st Quarter 2023 with upgrades and concentrator ready to fire up in the 4th Quarter of 2022.
> They have Refinery permitting and construction commencing at the same time in 4th Quarter 2022 so that tells me that there will be plenty of news flow on this as well as potentially some ' Funding ' announcements from Sayona , Piedmont , and Quebec. And this must be referring to Becancour as opposed to Carbonate refining at NAL , as permitting would have already been done and approved for this site I would think.
> Strip ratio at NAL is almost better by half to that of Sigma with Moblan improving again by another 100% to that of NAL. I wonder if the Stip Ration of NAL has incorporated the Strip Ration of Authier by virtue of the Blended Ore of 33% because I can't see much change to NAL's based on previous DFS's.
> And indeed the presentation shows and confirms that contrary to all the lies posted yesterday , that Moblan had undertaken a DFS in 2019 suggesting so had performed these studies which are often seen on more advanced deposits and projects.
So the reality is that there has definitely been plenty of money spent on Moblan by Perilya and Guo Ao after them as well as SOQUEM
And honestly .....who would you rather have picking up the tab on the other 40% of a JV ......another mining company who has to constantly go cap and hand to its shareholders in raising the required exploration funds ......or that of Government who virtually has an endless supply of secured funds at their disposal if they so wish to continue to advance a project
(20min delay)