Tumba2 This is a 10.1 raising in total with latest issue underwritten by Patterson's.There is an out clause for Patterson's but equally also reason to believe the share price being at this level benefits Patterson's.Draw your own conclusion this is a significant cash raise that will underpin required development funding.Importantly development funding will not be used for further exploration of Lindi.Only a couple of drill holes to show potential."The rest is history"...
The plant is currently known to be for 1000 TPD of thru puts but suspicion remains the plant could be for 3000TPD.
For a basic understanding of WKT thru puts
1000 TPD x 300 days @16.3% Feed grade x 92% plant efficiency and 85% recovery=38.239 Tonnes of concentrate purity 94-97% TGC
Subject to demand upside of plant at 3000TPD,feed grades between 16 and 32%,basket price are all possible.The trick is we can grow into known markets with certainty at little cost.The other unknown for upside is the potential to run operation for 24 hours above the DFS proposed 11 hour operation.
Conservatively due to our high cut off at 8 % could also deliver a bonanzer when fed thru plant from reserve stock pile...
Croc
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