can I offer counter opinion based on experience and knowledge in this space.
re 20% .. yes unfortunately it's the nature of ore purchase agreements . they favour the mill owner. toll treating is different but I understand this is not what's being considered. the menzie ore type of which ore purchase agreements are particularly punitive. it's not low grade uniform which is easier to quantify in ore purchase agreements.
ps who ever said you start with your high grade and finish on low grade ?
BML in both cases most likely would not be controlling or running the mill. further putting in a new process operating team for a short period would be a recipe for disaster.
btw how many contracts and toll agreements have BML run. I can't seem to find any history at all on them, who runs them or who the management team is. they aren't known in the area. not to say they can't but also we can't say they are proven either.
re BTR mill. it's not a 5.5m refurb. I suspect it's at $12 number at least from what I know.
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