I think that either: - People have misinterpretd the beneficiation process BRM will use - The beneficiation process is not good enough as many suspect.
Here is a company quote, which I is the reason I asked you the first question:
"The company advises that the results of initial screen upgrade testwork on sonic core samples from the North-West Sector mineralisation has demonstrated the potential to upgrade low-grade detrital mineralisation into a marketable product."
"Al2O3 grades were reduced by 25 – 40% for pisolited etritals and by 28 – 38% for mixed detritals. SiO2 grades were reduced by 55 – 70% for pisolite detritals and by 25 - 45% for mixed detritals."
We do know original Detrital impurities are: Silica - 25% Alumina - 6% (both off the scale in my books).
Assuming the maximum beneficiation, this brings them down to: Silica - 7.5% Alumina - 3.6%
Even these are still on the high side. Silica should be 3-5%, Alumina 1-2%. (note: this is why UMC Railway ore is so significant - many punters have still not realised the importance of the low impurities that UMC have).
However - they say that their DSO ore has 4% Alumina!!!
I think they are still working on their mechanical beneficiation process. How were they able to come out with a statement like: "potential to upgrade low-grade detrital mineralisation into a marketable product".
I can't believe that Wayne Richards would jeopardise his reputation by feeding the market b.s. He hasn't sold any shares on market, so there must be some truth to it.
Anyhow -- I apologise to my fellow UMCers for this geological chat. If it is any consolation, I used part profits on BRM to purchase another 20,000 UMC earlier in the week.
Heamatite, please respond on this thread, or email joelbaby @ hotmail.com
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held