So the PEA figs are based only on 26mt! NOT the 45.2mt as under ASIC rules can only use 75% of the "measured" for the PEA calcs & 75% of indicated & 25% inferred. I think (if I understood right).
So the PEA potentials $$$, are way down. It seems these figs based on 75% measured, 0.43Mt= .3225, plus 75% of 29.70mt indicated= 22.275mt, and the inferred 25% of 15mt= 3.75mt
75% of the Measured, which was bugger all the .43mt= 0.3225mt.
75% indicated, 22.275
25% INferred, 3.75mt
total 26.3475mt only used in PEA calcs. so 45.2mt over 26.3475 = 171.55% potentially better results here!
Abstract from the PEA pg 3 under Exec Summary;
The Colina Project PEA, made up of 45.2Mt (includes 0.43Mt @ 1.34% Li2O " Measured " they can only use 75% + 29.7Mt @ 1.37% Li2O Indicated they can only use 75% + 15.0Mt @ 1.22% Li2O Inferred they can only use 25%. PEA Based on only
OMG! if I'm right in my assumption, then basically, these figures are down 71.55% of what they should be. "I'm listening to CG's podcast as I type....
If CG off sold the Cloud Nine Halloysite Project! Would cover some/ or most construction costs! I have forgotten what it was worth. 100 Mil?
Seems in October- an announcement of an expression of interest decision. 3 new interested parties on board unnamed. So that's about a dozen now! & CG is hoping to get some funding from that offtake. Plus, Brazilian managed funds. & he aims to use very little equity so no watering down.
11 rigs still drilling! All way to end of year & looking to increase into 2024. Plus planning more infill at Colina from inferred to indicated & measured. Plus more drilling elsewhere still going on! Is talk possibly strip ratio may get better when they know more.
Great pod cast! I'll keep holding!
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Ann: Robust Results for Colina Lithium Project PEA, page-222
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