I don’t have the source information at my fingertips (I’m actually on my lunch break in Southern California), but I have seen at least one Core presentation that made note of the fact that the upper levels of Grant’s Pit are more weathered than anticipated.
In fact, as I write this, I have seen it at least twice, because I recall an older presentation where this condition was discussed and the discussion was concluded with a mention that it was expected that ore quality would improve as they got deeper into the pit, and it was mentioned again in relation to having to modify the slopes of the pit walls.
It would seem that this COULD be an issue other NT mines might face. Much more rainfall and flooding can do funny things to below grade geology.
Bottom line, IMHO, weathered ore is a feasible reason behind the fines issue (even if you screen the fines out, when the weathered ore gets to the crusher it will create more fines than usual), it seems to me that Core has known about it for a while, and it seems that the resolution is either keep mining as is and hope you hit more structurally sound ore soon or else consider drilling to better determine the physical properties of the resource and then exploit the “better” ore first (which seems a temporary solution since you’ll have to chase the “poorer ore” eventually).
I’m not a Lithium miner in the NT, and I’ve only seen the site in photos, so I don’t know enough to say which option is better. It would be nice to see management discuss what, specifically, they have looked at, fixes tried, and what the results have been. Again, off the top of my head on my cell phone, I recall a presentation slide earlier last year that listed three or four issues that management was looking at with a status on each, but that’s the only time I can recall an update. Given how important execution of operations is for us, I’d like to see more communication related to our mining operations.
Cheers, and have a nice weekend
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