Again you haven’t done your research properly. PG produces...

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Cookiemycat

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11/07/23

16:06

Post #: 68731667
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Originally posted by 2ic: ↑

The ASX doesn't audit the assumptions in scoping studies, please, its buyer beware. That garnet price is retail for retail quantities. Another 150ktpa (>10%) quality hard rock garnet is about to hit the market next year as Nordic Mining's Engebo mine development is completed. First 5 years sales locked into off-take contracts with 3 major importers/retailers who will mark-up and distribute the garnet... Nordic will sell no garnet retail, they have no distribution channel.

This from page 48 of their 2021 DFS, worth looking up the section on garnet market. Demonstrably they are selling wholesale volumes at wholesale prices, in their case the price assumption to get the project funded (ie still profitable) was US$230/t FOB long-term (2021 real). Below that is their commentary on the garnet market 1st Qtr 2023.... slow going and the downturn hasn;t started yet. Just as well they locked in price and volume yeah.

I can explain it for you, but sorry, i can't understand it for you.

GLTAH

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Again you haven’t done your research properly. PG produces alluvial garnet which has premium over hard rock garnet because it is superior product higher hardness on mohr scale. You can’t practically be comparing lower hard rock garnet to alluvial garnet. Also, China only produces hard rock garnet so there low logistic cost won’t affect our material. That is why GMA is top producer of garnet because PG garnet is superior and high in demand.

Last edited by Cookiemycat: 11/07/23

HVY Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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