GLN

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17.0¢ galan lithium limited

i expect/hope that on the reserves to resource conversion for...

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spovend

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19/03/23

19:52

Post #: 66847717
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Originally posted by paulgf: ↑

That conversion recovery rate ( ie projects usually lie between 50 -60 %), which is essentially the loss of product due to the evaporation and conversion process, is the biggest driver into converting M&I's resources to Reserves. If the DFS proves up a recovery rate of 58.5 %, and M&I remains at 5.20 MT tonnes, then the absolute max that reserves can be is 3.04 Mt. However likely to be less than that as brine distribution and pumping rates will mean at some point you move into more marginal territory and then both costs increase and revenues per unit of time decrease and you also need to allow for margin of error or uncertainties in your numbers. However given the fat cash margins still likely in play even working on long run pricing in the mid 20 K range versus a likely Opx cost we will see in the dfs of circa $4-5 K (would be my guess now with recent inflation effects worldwide), with the right amount of infill drilling and testing of flow rates, you could in theory build those reserves out from where I think it will fall around 1.70 MT-2.0 MT in the reserve update that should form part of the DFS to closer to that theoretical max number.

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i expect/hope that on the reserves to resource conversion for HMW, this is where our very high grade and low impurities will play a valuable role and we will see a conversion on the higher side vs historical comps. Factor in also the relatively strong long term price outlook of still probably US$20-25k/t and it wouldn’t surprise me to see a HMW conversion of 40-50% and an initial maiden reserve in low 2MTs

GLN Price at posting: $1.03 Sentiment: Buy Disclosure: Held
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