Ann: MRG HMS - World Class HMS Deposit Confirmed at Koko Massava, page-10

This is even worse than my low expectations... 100Mt @ 6.6% THM with an unrealistically high cut-off grade of 5.5% and too much overburden. Not that anybody in this stock wants to understand the facts, just headline traders being fed headlines by management. "World Class" it is very much not imho... neither size or valuable heavy minerals (value being the important word, not content of very low value re-purposed trash minerals).

A more realistic cut-off grade of 4.5% was presented with the stripping ration plot over the high grade area (average strip of approx 0.33:1 eyeballing it). At 4.5% cut-off and still expensive strip KM has a global resource ot 225Mt @ 5.8% THM, although this high-grade 'target pit' will be considerably smaller than global but also probably higher grade (maybe 125Mt @ 6% THM and 0.33 strip).


Better hope that pending met sample has a miracle, the assemblage is dreadfully low value as the market has known for a long time now.