Indian is not producing almandine garnet with 7.5 mohrs and India is still banning mineral sand mines. I have posted the price at which RDG id selling and hvy price is a bit below there range which is conservative according to me. Aud is dropping against usd which increases garnet price in aud. If you read through USGS report then you will know how garnet import is effected by operational oil rigs in us. Which went up 50-65% since their last report and still increasing as Biden was pushing to increase onshore oil production. Also, USGS clearly mention that garnet market is competitive and only high hardness garnet is imported to us which is only almandine garnet produced at port gregory. We can wait for the presentation as Nick will definitely talk about preliminary talks for offtake. Garnet is used for oil rigs which is booming, waterjet industry, aerospace industry which is also booming coz of war and going back to moon stuff. I mean you will pump MRQ and come and shit on a company that you don’t even hold is beyond me. GMA is operating for 30 years for a reason. We are not selling iphone vs android. This is basic stuff, we are selling same garnet as GMA and from same mine. RDG wasn’t stupid to invest 70mil in a dying industry. Also this is the only eco friendly abrasive other than synthetic abrasive which is again not 7.5 mohrs harnesses. Also, we have mineralisation opening on both ends of the site. This will easily have much higher NPv after phase 2 drilling
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- Ann: Scoping Study - Port Gregory Garnet Project
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4 | 122653 | 0.110 |
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8 | 157979 | 0.100 |
1 | 35000 | 0.091 |
Price($) | Vol. | No. |
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