TM1 0.00% 4.3¢ terra metals limited

@Cpt Quartz , really like your work, effort and style reviewing...

  1. 2ic
    5,941 Posts.
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    @Cpt Quartz , really like your work, effort and style reviewing projects and watch them all out of interest. I requested my post about the video being uncomfortable to be removed, poor form sorry, but seems the mods really aren't doing me any favours atm. Glad you picked up on the 4g/t Au Eq error quickly given it was way out given the low grades of Cu and PGE3.

    That Discovery Alert tool looks useful, though I would hope you understand just how misleading simply aggregating all the metals assays at refined product values can be? This aggregation process can look fantastic on face value, which is why companies promote such, but anybody evaluating what such actually means needs to consider or at least make the disclaimer clear that it can be very misleading indeed... You are a professional with good knowledge and growing following, so I'm sure when you speak others will follow. Very few bother to put themselves out there, hat tip that you do, but with a following comes responsibility for accuracy imo, time consuming or not.

    Take titanium for example, which is 80-90% inside ilmenite grains. Ilmenite is a very well understood, huge bulk mineral traded global market. You say " I am no good at hot copper at all, The PGE, metals inc Ti achieve roughly the grades I calculated.".. but don't say what value you entered for Ti to achieve 4.5g/t Au Eq? Below is my simple table with various Ti credit included in a AuEq values. Do we price Ti as an Ilm Concentrate, with or without deducting the reality of 1500km to port for a low value product? or do we go straight to the value of Ti-metal ignoring recoveries and processing costs and plug in $6900 like we plug in US$9000/t for Cu?

    https://hotcopper.com.au/data/attachments/6273/6273636-7a058d07276d173719a91dd52b06b51f.jpg

    You also make no reference to recoveries and costs of recovery for each metal, some of which require separate plant processes etc. Not expecting you to drill down into the met if it's not your thing, but again I expect you know enough to raise the issue when evaluating multi-element projects on simple sum-of-the-parts metal value aggregations... Vanadium is another bulk commodity product that can be traded as Ti-V-Magnetite concentrate for processing in say China. Unfortunately, as a simple Ti-V-Mag con it is worth even less than ilmenite con, and revenue would'nt even cover transport to China from site. That then means valuing the Vandium flake as a product from large and complex Vandium flake plant built on site in the west Musgraves, with all the reagents, acids etc transported 1500km to site and operated by all the Native Title holders who want to be trained up for high quality jobs...

    If I may also suggest, too much time just reading quotes from the company release and too little time explaining what it all means regards the data/geology/assumptions etc. It's reasonable to ask listeners read first and/or follow the company release with your video, don;t have to spoon feed everything through repetition, if listeners are genuinely interested they will make the effort to refer to the release. Appreciate this requires a little more preparation to present than a more casual 'review in real time' style, but would convey a lot more meaning a lot quicker imho. Still, love your effort and website, keep it up!
 
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