interesting MMI state their Xinfa spec (BH1) at 6.72 Mt in the Life of Mine and in the annual report they plan to ship 2.2 Mt wet in 2019 under the existing off-take.
BH1 is a resource of 9.5% Silica (measured) Resource and the best deposit when reading the available announcements.
In summary MMI are planning to ship 66% (2.2 Mt)of 2019 production at a grade around 3.5 % Silica under the latest stated Reserve....and the remainder around 1.5% Silica under the stated reserve.
This is not obvious when reading the releases but is there if you look closely.
Personally I prefer to see depletion of the previous stated Reserve before the additions so it is easy to understand. Unfortunately MMI did not structure the update like that for some reason? Waterfall chart would have been nice?
Thoughts anyone?
MMI Price at posting:
13.5¢ Sentiment: Sell Disclosure: Not Held
