Ann: Scoping Study-High Purity Manganese Sulphate Project, page-35

Taken a while to seriously look at this opportuniry.
Amazing what can change in 3 months and frankly surprised how negative most of the comments are.
In other threads people are saying the board has done nothing.
Isnt this the very thing a board should be looking at?

I dont see it as a choice to choose between expanding production or build this.
Infact it looks structured to do both.

Capex wasn't huge to begin with and approximately 1 year of elevated prices makes it a walk in the park.
AMCI sell close to $50m in a block trade.
MC has doubled

2mt of ideal manganese stock piled and cheap continous supply, whats not to like.
The fear of Tshipi selling to competitors cheaper isn't logical. We would have a supply agreement stitched up.
The sale of this prouct would virtual go to Tsiphi bottom line so its a win for everyone if it works.

On top of that an extra US$180m Ebitda ongoing.
Not sure what multiple should be used to work out the MC but its way north of here.

If they can consolidate the industry and grow production, add a new string to their bow and make lower grade maganese profitable then our upside of the next 5 years is a significant wealth creator.

DYOR
Shalom