Feels a bit like people are bored and were looking for instant gratification which hasn't been forthcoming.
We know they have ramped up to 24 hour production, they are producing on spec 30-35% Manganese and that shipping is a problem, but its not like the product is going to rot at the docks.
If I remember correctly the final part of the benefication process the ore goes through a sorter and on average, the fines are @28% and the larger bits are 33-35% depending on which areas they are working. The final grade is dependent on the mix of the 2, so greater volume, lesser % content, so not as simple as just cranking things up and shipping it off. I have quizzed Justin a couple of times on output and that is why you get a range 30-35%.
They have plenty of cash and will have received another $4m or $5m so no issues there
We know they are working on Stage 2 expansion with a stretch start-up date of Q1 2022
We know they have recommenced laboratory test work last quarter to reconfirm work done in 2019 and 2020 on flowsheet optimisation for conversion to HPMS
Personally don't think there is all that much more that we can be told at the moment that we haven't heard before.
I have no idea when the PFS will be released, but think it unlikely there will be a heads up. When its released it is unlikely there will be much opportunity to get long IMO.
In the meantime shares will change hands from impatient to patient.
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1 | 10000 | 0.225 |
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Price($) | Vol. | No. |
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0.270 | 100000 | 1 |
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