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SGQ? Never heard of this company..

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19/08/24

20:59

Post #: 75275820
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Originally posted by ozblue ↑

@stockbluesky ... do you understand how much high grade mineralisation SGQ have? Assuming high grade to be over 2%.

Here at WA1 we have 53 million tonnes at 2.1%, and likely to go much higher with a lot of infill drilling. Most of the drilling so far is on 200m X 200m spacing.

SGQ have very close spacings in the higher grade area, which as needed to get the measured category, 20m X 20m and sometimes closer if you put a ruler on the maps and cross sections of SGQ's presentation. Lots of holes very close together, gives the appearance of a large resource to those not paying attention.

SGQ have bought a Niobium project with a Ni43-101 (Canadian standard) resource of 80,000 tonnes of ORE at over 2.0% in the measured category. Drilling deeper is not going to help raise the high grade bit as it's into fresh ore below the oxidised area (also marked on cross sections on pg 10 +11 of the presentation 6/8/24).
The map on pg 9 clearly shows that to the North is low grade, (all the yellow dots).

The company themselves have stated they are not including anything from the tenement in the East that has the huge old tailings dam. A few hundred metres to the west, where the grade is thinning out, are some luxury hotels. To the South is CBMM's land.
There is simply not enough area to get a large high grade resource.

Even at 1.5% Nb2O5 there is only 370kt of ore in measured and 270kt in the indicated category, none in inferred. 640kt of ore at 1.7% and a 41% recovery (PEA) means a total of under 4,500 tonnes of Nb2O5 in total!!

WA1 will likely be mining multiples of that every year at a higher grade!!

SGQ shouldn't be mentioned in the same breathe as WA1, it's nonsense and will see their shareholders suffer over the next few years as they prove it to be unviable..

WA1 uses $30k/t for Niobium product sales, being conservative.

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SGQ? Never heard of this company..

WA1 Price at posting: $15.60 Sentiment: Buy Disclosure: Held
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Last $14.97		Change -0.040(0.27%)		Mkt cap ! $971.0M

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