Ann: Lindi Jumbo US$20m Project Finance Facility Secured, page-222

Hi @semi retired and @96Blitz

Reposting With a few additions because it maybe offtopic on the other thread,

Large flake and super jumbo flakes do see superior pricing, No one is doubting that,

What we have been saying all along, WKT's DFS is modeled on the oxide mineralisation, not the hard fresh rock that makes up 97% of its resource. I would have thought WKT's lender would have requested a independent review of the ore body, or for the company to conduct a bulk sample, prior to offering a conditional term sheet.

To help you visualise the loss of Jumbo Graphite, the table shows the loss between oxide and fresh mineralisation, The following results were required by their lender as part of a Bank Feasibility Study

As you can see, there is a significant difference between mining oxide (weathered) to Fresh mineralisation. the commercial production resulted in a 96% loss of 500 micron graphite.

the forecast basket price significantly dropped from US$1358 down to US$1088.



If WKT sees a similar loss when mining the Fresh mineralisation from all of the drilling and blasting, its basket price will be significantly impacted where it will drop down to around US$1120 per tonne.

WKT could be producing as little as 1% Jumbo Graphite and 12.5% of Large flake based on the other companies commercial scale bulk sample and production facility results.