notes from presentation

Attended yesterday's Resources Symposium in Sydney to hear Tom Eadie's SYR presentation..

Some notes below.. Please note these are from my written notes only. I do NOT guarantee the accuracy of the information and if I have mistaken or incorrectly noted anything then I'm happy to be corrected..

-SYR presentation was by far the best of the evening. Left all the others for dead..
-TE comment re SYR sp 'You ain't seen nothing yet'!! genuinely believes there is lots more upside potential
-Marketing manager has been appointed with task of securing offtakes/supply agreements within next 6 months. Will also help determine parameters of scoping/feaso study
-Balama west JORC still on track for end of year
-Metallurgy currently looking excellent
-Good mix of flake sizes at Balama including large amount of jumbo flake at Balama east.
-Exploration target grades are averages from current drill holes
-No foreseen issues with infrastructure, water supply secured, port capacity ok, road ok, graphite concentrate to be bulk-bagged and shipped out in containers from port
-Capex of plant and startup expected to be $60m-$100m depending on size
-Cash cost of production expected to be very low ~$100/t + ~$100/t in transport. Very high margin!
- No foreseen issues with regulatory approvals, mining minister onside, Balama considered very small scale compared to some other resource projects currently underway in Moz
-Size of project and annual production rate will basically be demand driven by graphite market
-Nachingwea seems to be losing focus and an unnecessary project considering size and scale of Balama- not sure what will happen here..?
-Mineral sands at Fungoni looking exceptional.. planned on drilling 2000m but have drilled 8000m to date.. results pending! read into this as you like.. Zircon content expected to be Very high
-Mineral sands projects would likely have a higher margin than Balama if results are as expected.. mineral sands market also much larger than graphite market.. interesting..


All in all a very positive presentation. Nothing really new, just need to start ticking the boxes now and firm up expectations.. There seemed to be quite an emphasis on the quality and potential of the mineral sands prospects at Fungoni so looking forward to some results from there..