LTR (ASX) ASX Today

Originally posted by anatol: ↑

Great work @dynofish

Just one reminder;
there is sales of 230kt spod concentrate on your calculation.
Cost of mining is taken as $449/t.
And the cost of total mining is 230kt x $449t = $104m

However we have had already mined the ore for making 100kt spod concentrate as of June 30 2024 according to the data given on Q2 2024 Quarterly report.

Therefore I'd get only the cost of mining ore for making 130kt (230kt - 100kt) spod concentrate.

So the cost would be 130kt x $449/t = $58m but not $104m.

I explained that on my posts #:75562255 Sept 6 2024.

On my post #:75112793I posted this info;

We have already started spod production and we also have huge amount of mined, crushed and sorted product waiting for processing.

We have216kt clean oreat the ROM pad which is being now processed in the plant.
That is a huge amount.We can produce around 40kt spod with that ore. (these images below are from old videos)

We also have reached to the high grade FLAT pegmatites at the open pit of Kathleen's Corner.
Mining high grade ore from there will be quite easy. It will be efficiently processed in the plant and converted to high grade spod. Here is one of the old cross sections of that area. You can see very high grade and FLAT pegmatites there.

Mining a flat pegmatites is very low cost because there will be no **bro waste material in it, only the CLEAN lithium bearing ore. It's like scooping a cake from a plate.

Kathleen's Corner

We have had 58kt crushed and stockpiled clean ore in plant.
That sits between the primary crusher and fine ore bin. That ore was the ore fed to the plant for first production IMO. That makes more than 10kt spod concentrate when processed.

We also have251kt are sorting product (OSP)
which includes previously mined for DSO (Direct Shipping Ore) . This ore will be sorted and crushed in the OSP plant and will be feed to the process plant. That is a huge amount as well.

We also have 11kt clean and sorted productwhich is I think being fed to the process plant.

And now underground ore mining has started.
That's the best ore type as it's also clean lithium bearing ore like the ore now coming from Kathleen's Corner.

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Hey there,

Am a tad confused. Bear with me because I understand that over 100 people agreed with your post and at this point 33 strongly agreed.

It seemed to me that @dynofish was attempting to share his assessment through to the end of this financial year, yet you believed he has overestimated mining costs. He believed it to be conservative (I won't begrudge him that claim), yet you claim he has overstated costs. Are you suggesting that in order to check the financial position at EOFY one should assume LTR will only mine enough ore to fulfill 230kt of production and have none sitting on the ROM pad come July 2025?

I understand you believe there is enough ore floating about the site to produce 100kt, but surely LTR will continue to mine to feed the plant post EOFY. Your reduction is quite direct (230kt-100kt). Perhaps I would be less confused were you to suggest a reduced level of mining due to the levels of stockpiled ore.

From my perspective, I anticipate, all going well at the plant, that mining must increase, and as such dyno's figure should be higher to ensure 3 months+ ROM ore. There is however a possibility that LTR will produce to meet demand during this phase of rampup. Some might call that discrete moderation.

Diving into your calculations of ore, I notice you claim (without knowing grade) that 216kt of clean ore will produce around 40kt of SC. That would indeed be an exceptional performance from any plant in it's rampup year. One might say, unbelievable. You further appear to combine all listed ore to a total of 527kt and apply a very similar ratio to get to your 100kt.

Now the ore sorting plant that managed to sort only a resulting 11kt in over 2 months - how much of the 251kt that was waiting for it at the start of the financial year, will it be able to process in a 12 month period and how much of the 251kt will be left post sorting?

I am reminded the positives of Hotcopper by your post. I came here today to look into LTR for what I may have overlooked. I probably wouldn't have questioned the capability of the sorter if not for your extremely positive post. Thankyou.