Given all this they are currently achieving 90% pure magnetite with 2/3 of polishing circuit complete and were achieving 87% without it. Assuming the last third of polishing circuit improves quality like the first two third means they sill only get 66% FE when finished. Either gbg lied about progress and they are only 50% complete with the polishing circuit or the polishing circuit can only get the magnetite to 66% FE. Let us hope we were lied to about progress... I think odds of progress not as reported at KML must be near 10:1 for not as planned given the track record.
Note: im terrible at math and I'm no expert on magnetite plants so I'm probably wrong. Odds 100:1 that I'm right
GBG Price at posting:
11.7¢ Sentiment: LT Buy Disclosure: Held
