ASCENDANT: The Kathleen Valley Story Part 1, page-122

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celtickiwi

446 Posts.

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24/05/24

18:31

Post #: 74000191
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Originally posted by Scarpa: ↑

Tantulum is produced/captured after the SAG - at the magnetic separation stage. From the DFS - page 28 - Post #:57483407:

So I suspect, when they do wet commissioning they will probably check the tantulum concentrate and recovery as well.

Tantulum is also a credit in the DFS against opex costs here which many here may not realise. LTR is working on a credit against opex of around A$60 per tonne DMT and that is how it gets to opex costs of A$651 per tonne at a 78% spodumene recovery rate in WOF - referPost #:70089149In the DFS itself back in late 2021 they report opex as a cost after tantulum credits. (Tantulum here is a concentrate btw.) PLS also reports it as an offset against costs as well and not revenue, and many don't understand that too - referPost #:73157155for further info which I also posted a while back

The maths how to do credits is in the embedded post herein, Post #:40024479, and one can apply it to LTR for those mathematically inclined. At a high level I don't have issues with the LTR assumption - obviously depends on price, recovery rate, and extent of tantulum in concentrate - here 30% concentrate - and the assumptions for each in the DFS appeared reasonable too me. If it is less than A$60 per tonne, it won't be much less than that IMO as typically in the past I worked out tantulum credits at around US$25 per tonne - US$40 per tonne but that was a while back and obviously things are price/recovery dependent and obviously the tech has improved for recovery especially if the SAG is producing consistent particle sizes which the video alludes to (although they just talk spodumene but that would also apply to the liberation of tantulum too) given it is a WOF process for producing spodumene..

In terms of tantulum, tantulum recoveries are estimated at 42% from recollection referPost #:73223642- which is a pretty good result for effectively a 'by product'. Tantulum recoveries would be lower than spodumene recovery rate because the SAG configuration is about recovering spodumene, which is done by ensuring consistent particle sizes at p80 of 106 microns, and that means that tantulum recoveries are essentially a byproduct in itself at the next magnetic separation stage, noting it is the next stage after that been floatation where you get your spodumene recoveries - refer pic above and Post #:73232929. At the magnetic separation stage you are essentially using the difference in specific gravity of tantulum and spodumene to capture the tantulum, and by simply using magnetic separation as the guide to extraction means in itself lower recovery rates.

All IMO, and a cold VB is good for the soul.

All IMO

Expand

Thank You!

So it's NOT about the revenues - The real value lever of Tantalum (if processed well and its half decent quality concentrate) is as a contributor to drive efficiencies/lower the SC6.0 OPEX costs to AU$651 DFS target or better = Improved Margins/EBIT.
Although a 1st Tier offtake name, like US DoD, would probably put a nice bow around it!

Enjoy the VB!

LTR Price at posting: $1.37 Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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