...."As at 31 December, 2017 Mt Cattlin was estimated to contain 11.6 million tonnes at 1.2% Li2O or 140 thousand tonnes of contained Li2O metal."
...."The updated Mt Cattlin Ore Reserve at 31 December 2017 was estimated to be 7.6 million tonnes at 1.1% Li2O or 81 thousand tonnes of contained Li2O metal."
I'm assuming this is a result of the drilling exploration they've been carrying out .... "a comprehensive RC and grade control drilling campaign (>10,000m)."
It goes on to elaborate in the bottom table on the first page, 20,400 Tonnes of this is proven, the remaining 60,100 Tonnes is deemed "probable" .... I don't know the intricacies of the processes which lead to these figures, but these are the figures we've been given.
The level of recovery for all quarters last year was as follows; Q1 53%, Q2 52%, Q3 57% and Q4 58%.
If they're able to nail the optimisation, increasing processing efficiencies and improve plant recoveries to 70-75% .... all the while increasing the amount of ore they put through ....
The quarterly update will be good reading and put some perspective on some of this info.
IMHO .... it's not the fanciest insight - I know even less about all the shorting, big player financial maneuvering and other external market forces, which are having the biggest effect on the share price at the moment.
GXY Price at posting:
$3.29 Sentiment: Hold Disclosure: Held
