Have taken on board the warnings, but upon research of the PFS, I'm sure M. Biggs and A. Law (stated in competent persons statement in Volt's PFS) would have something to say about your comments, as mentioned in PFS, A. Law is actually a Fellow and Chartered professional of the Australian Institute of Mining and Metallurgy, I know whose opinions I'd rather taken on board lol.
So as I understand, the cut-off grade is: "A grade level below which the material is not 'ore' and considered to be uneconomical to mine and process. The minimum grade of ore used to establish reserves." So I think this is a good thing is it not? Especially with a very high recovery percentage processing the ore. For example, look at WKT, the recovery percentage is something like 85% I think, not sure what their cut-off grade is.
I pulled this out of Syrah's latest presentation too.
I think the basket prices may have come down since the PFS was released, but the information is really related to future pricing for production in 2019 and I think were fairly conservative, not at the really high end of tonnage prices they could have estimated at (see example slide from Syrah's latest presentation below and also Volt's latest presentation).
As a few have stated here, this is preliminary and numbers will be recalculated when the dfs is completed.
Anyway bye for now, did you say you had 3 cats, hope they are doing well and getting well cared for. I'm off to walk the dog.
SS
VRC Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
(20min delay)