Hi @tropicI too really enjoy your commentary and insights. We...

Hi @tropic

I too really enjoy your commentary and insights. We have great input from everyone and a rare thing, we don't have any down-rampers of any note.

You have raised a question that I too have thought of many times and that is, how does LMG go from 10,000tpa fly ash to 100,000tpa ferro nickel slag and be in production by January of 2027? This is not a negative post, rather it is just simply highly inquisitive. Even the fly ash needs the 1000 tpa demonstration plant first to prove a commercial scale of the process. Is the ferro nickel slag just a walk in the park in comparison? These questions and interests should be addressed within the soon to be delivered PFS, so this post is just expressing curiosity. Full PFS is scheduled for end of Q1, so not long now.

I would have thought the progress from laboratory trials, to fully operational 100,000tpa plant is a quantum leap in aspirations.
Nevertheless, the tremendous display by LMG that they have been able to effectively communicate, illustrate and convince prominent and professional industry stakeholders of the science and strategy, has been tremendous to date.

Stating what is already known:

1. Bechtel Global Engineering, Construction and Project Management:
July 2022 - Contracted/awarded PFS. A major vote of confidence in itself!

2. Jasper Consult DMMC (London and Dubai):
2022 - "LMG has appointed Jasper Consult DMMC, an international consulting firm based in London and Dubai, to identify and assist LMG in making the approach to appropriate potential partners."

3. Société Le Nickel - New Caledonia:
September 2022 - "Latrobe Magnesium Limited (ASX: LMG) is pleased to announce the signing of a binding MoU with Société Le Nickel (SLN), for the supply of 450,000 tonnes per annum of ferro-nickel slag for 20 years for its 100,000tpa magnesium plant"

4. Plant location:
Already a choice between Middle East and Malaysia - "final decision before end of Q1 2023"

5. Customs Agency Service:
December 2022 - "LMG awarded a long-term agreement for its logistics and freight forwarding services to Customs
Agency Services (CAS), a division of Mondiale VGL."
"Additionally, CAS will be utilised to provide input into the supply chain considerations of LMG’s Stage 3, 100,000 tpa international mega-plant."

So based upon the above..... LMG have superior PFS management, consultancy to aid in the development of joint ventures, feedstock, plant location (TBC) and logistics, now that is a very tidy package indeed toward the 100,000tpa plant realisation. I would think it extremely difficult to pull that all together, without a very sound argument for the not only the science but the proof of process as well.

Not for a moment do I doubt that LMG have performed 100's of tests using ferro nickel slag as feedstock.
Yet there is still a large gap in information regarding the differences in process between the two different feedstocks as far as I can see. I will just draw a comparison between the two feedstocks.

"The feedstock (ferro nickel slag) has nearly twice the Magnesium Oxide (MgO) content as Yallourn brown coal fly ash."
"The chemistry of the SLN ferro-nickel slag is .................."33%MgO, 55%SiO and 9%Fe2O3."
https://hotcopper.com.au/threads/ann-lmg-sln-signed-binding-mou-for-supply-of-ferro-nickel-slag.6953209/

The chemistry of Yallourn Fly Ash is .................................15.5%MgO, 6.5%SiO,16.7%Fe2O3, 29.95%CaO,19.57%SO3, and the remainder is made up of AI2O3, K2O, TiO, P2O5, CI2O and Na2O.
https://researchrepository.rmit.edu.au/view/pdf
Page 55, Table 3.1

As can be seen, the Yallourn fly ash chemistry regarding MgO from the research report aligns well with the statement from LMG that the slag has nearly twice the MgO content of Yallourne fly ash. The other differences are massive and so it may be reasonable to think that the LMG Hydromet and fast cycle vertical retort furnace process needs quite a different set-up for ferro nickel slag?

The remaining chemical composition of the fly ash for the SCM's is drastically different. How does this chemical difference impact upon the processing of the SCM's from ferro nickel slag, is it easier or simply a different type of SCM altogether? The percentage of Silicon Oxide, Ferric Oxide, Calcium Oxide, Sulfur trioxide and then other compounds in the Yallourn fly ash have been proven to make a superior SCM (with zero waste). Then how does Ferro nickel slag make a quality SCM with MUCH higher Silicon Oxide and without the Calcium Oxide (29.95% CaO) and without the Sulfur trioxide (19.57% SO3)?

This is way beyond me, I suppose that is why I have questions and am naturally curious.

Lastly, David Paterson confirmed some time ago that the percentage of SCM from both fly ash and ferro nickel slag were very similar, about 45% to 50% of revenue. It would be good to hear about the markets for the SCM derived from the overseas 100,000tpa plant and a comparable sensitivity analysis for SCM's for both domestic and international markets. As I have said before, the SCM's are extremely important to the LMG business case. The SCM's for the 100,000tpa plant are hopefully detailed in the PFS also.

I have no bone of contention, the demonstration plant is the number one priority and is the key focus for now. I just look forward to seeing the layout plans for the 100,000tpa plant and communication on the key differences of process and SCM markets. We know very little of the 100,000tpa process if you look over all announcements and interviews. The PFS will be a very interesting.

Regards

Ken