Nice operational update in terms of giving us a more holistic view of the operational challenges and the operational progress. It also gives a good insight into near term expected ramp up. Ironically, in doing all this, it has highlighted the woefully inadequate prior communications in which this broader picture was not painted. Hopefully, this is a thing of the past as it now appears an investor relations professional has been appointed.
In short: Our production constraints appear to be driven by quality and quantity of feed stock and hence the lower numbers to date. That is changing and they expect better quality and quantity of feedstock into the wet plant....pretty much from now! Last quarter, for every 1,000t of feed stock going in at 30-33% Fe, yielded between 300-380t of output product at 58-60% Fe. As the quality and quantity of feed stock improves, the quantity of output will rise from about 10,000t per month (i.e 60% of nameplate) towards nameplate.
Interestingly, with 7,000t of 59%Fe output already stockpiled, and expected 10,000t production in April, they can sell 17,000t in April which is pretty much in line with nameplate capacity (at least for April).
Sales update figures will also be very welcome to help complete the picture.
All IMO & DYOR.
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