WINMAR RESOURCES LIMITED (ASX:WFE) - Questions to Management - What is going on? Official., 41900560, page-1303 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by ozblue: ↑

@WhippedCream ..."My favourite is where you are alluding to Exploration and evaluation this year of $24k??

Please substantiate your posts please as I cannot find this figure?"

This year being 2019. March quarterly as you have shown was $18k, June quarterly $3k, Sept quarterly $3k.

They only announced the selected miners in the middle of Feb 2019, so for any ore based work, and combinations of it could only start after then. The same announcement stated they were commencing bulk sampling, so all expenditure on it happened after then...

https://www.asx.com.au/asxpdf/20190213/pdf/442l9n9n3kwt50.pdf

AGY went into a JV with a well known industry expert, didn't try to raise cash before starting to build their own pilot plant. A pilot plant being small scale is like internally doing your own feasibility. They also were earning into the resource ownership. They used their experts name all the time as a marketing tool, but they did have expertise.

WFE don't have a resource, nor an industry expert, because companies advertise their experts to help their cause, plus they come at a cost. Continuous disclosure means that if they had such expertise, it would be announced.

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“AGY went into a JV with a well known industry expert, didn't try to raise cash before starting to build their own pilot plant. A pilot plant being small scale is like internally doing your own feasibility.”

Wrong again!!

A small scale pilot plant is not a feasibility study at all!! AGY mine lithium brine so they built the pilot plant to prove their own proprietary lithium carbonate extraction process for their Rincon brine lake. Brines are unique and required to proven via the unique chemical extraction process for each lake. You don’t know what you are talking about so best to refrain from misleading readers!

Slightly different to producing cobalt hydroxide, lithium carbonate production from brine must also be proven uniquely to achieve battery grade standards and just as important reduce or remove unwanted impurities to acceptable levels, like Fe impurities. Incidentally PLS is battling with excessive Fe contamination apparently in the hard rock ore they are mining. Ouch!

To go back to your misleading statement about feasibility studies, the pilot plant is small scale so the chemical costs are very expensive and the plant is largely controlled manually. Also the recovery rates versus processing time are an enormous cost factor!!

So your comment a pilot plant is a feasibility is plain and simple wrong!