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Further to this my magnesium calculations were off as to convert...

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rjohnson1234

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30/05/18

09:39

Post #: 33366499
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Originally posted by rjohnson1234 ↑

In this post https://hotcopper.com.au/posts/33132865/single I summarised my thoughts on what we have from clastic 31 based on the recent announcement. Then here https://hotcopper.com.au/posts/33145180/single I updated my lithium thoughts after the helpful tweet from the company

As per my posts we come to about 80,000 tonnes of lce just based on one zone at 143ppm. If for instance we averaged 286ppm then that’s 28,600 tonnes of lithium or about 160,000 tonnes of lce subject to some loss etc. this is still based on one zone and 100m tonnes of brine which is the midway of the estimate by the company.

I hypothesise that subject to overall brine from various clastic zones and additional land that may be added if we get 300m tonnes of brine at an average of 220ppm that is 66,000 tonnes of lithium or about 360,000 tonnes of lce. At 15,000 tonnes per annum that would be a 24 year mine life based on lithium only. Factor in loss and we have would have say 300,000 tonnes of Lce and a 20 year mine life lithium only based on 15k tonnes per annum which is minimum 200m revenue per annum just based on lithium when we have the other minerals to extract and sell also.

I can see why management want to progress the bench top testing. Volume is not the issue. If the bench top testing can successfully extract and convert the lithium at 143 ppm we are set.

Being on that result !

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Further to this my magnesium calculations were off as to convert to mgo one must multiple the mg by 1.6. Quite amazing inferred figures from the various minerals.

Hopefully guidance coming

ASN Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
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