I’m betting on 20mt @ 4.1% for their targeted grade in the MRE upgrade. That’s the feed grade they used for all their initial metallurgical testing. Back then, the downrampers were claiming the tests weren’t realistic because the grade was too high. But I’m guessing management knew there’s a substantial amount of 4% material, enough to potentially sustain them for 10 to 20 years.”
With a 4% feed grade, you can achieve the same production with half the plant size of a 2% feed grade operation, significantly reducing capital costs.
WA1 Price at posting:
$12.52 Sentiment: Buy Disclosure: Held
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