@Paddywagon1982 To your question (sorry reply didn't work) the...

@Paddywagon1982

To your question (sorry reply didn't work) the 1.2% in that case is the grade of the ROM ore, the feed to the plant that is then concentrated to SC to sell.

By dividing the saleable concentrate % by the ore grade % it gives you a ratio which is used for the calculations. In this example, to get SC5.5 (5.5% concentrate) to sell as we are, well if using say 1.2% ore from the NAL open pit, then you it's a concentration ratio of 4.58.

It shows how important and beneficial it is to have higher quality ore, like Moblan for example, or Greenbushes say. Say if using 1.6% ore, then to get 5.5% concentrate you only need a ratio of 3.44. So basically you're getting much more saleable concentrated product out of the same tonnage of ore and therefore better profit margins and a more efficient operation overall.

We are permitted for a certain tonnage per day of run of mine feed, so the more SC you can get out of each tonne of feed, the more money we make.

I hope that helps explain it ok mate