My recent bearish stance has been justified but now some food for thought.
Snapper has almost double the head grade of Ginko and 5.9 mill tonnes. When both mines producing, 600,000 metric tonnes per annum of concentrate over 20 years.
Reserves expanded to 85.2 mill tonnes. Two thirds of the deposits are located within a few hundred kms of each other. Seven deposits are good for over 15 years of mining and a further 8 are good for over 10 years production each. Even without further expansion thats over 50 years of production. Snapper needs only 15 km of roadworks and 10 kms of power lines. Pooncarie saline acquifier more than capable of all water needs. MSP upgrade here will save over $10 mill per year in freight costs. EBIT OF EXPANDED OPERATIONS APPROX $60 MILLION per annum with longterm contracts in place. At current levels around 21c I see as an entry opportunity for the longer term, clearly its not a trading stock and will imo come in for corporate activity....hopefully not at these levels tho. Cheers
BMX
bemax resources limited
My recent bearish stance has been justified but now some food...
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