Sybella Benchmarking vs Peers, page-149

@chopstah Good question. The Apollo Hill processing OPEX of A$9.46/t includes reagents for their circuit of $2.83/t ore. To get just the OPEX for crushing, HPGR, agglomeration, stacking, moving PLS around, treating discharge (similar to a REE heap flowsheet process wise) would be 9.46 - 2.83 = A$6.63/t ore for processing and this is about $2/t ore higher than IXR Makuutuu so I think it is reasonable. I then manually calculated reagent cost for Sybella based on some reagent price assumptions from other studies to give a stand alone reagents OPEX. Rare earth projects are very reagent OPEX heavy so it deserves its own standalone line.



I am also keen to compare against MEI and VMM, but they are exceptional projects to be honest. Let's see how follow up met testwork and drilling goes for Sybella as it is still early days here.