I'll post these figures now that I have gone back to the SS where figures are available - from the table below aiming to get to 9000 tonnes V205, which is the SS figure. Yes, I know the PFS has a higher number.
From the Table below further variables available - 81.5% recovery from concentrate (i.e your refiner I suspect)
Equation:
(1,600,000 processing rate * 0.75% average V205 grade mine) * (2.03% concentrate grade/0.75% input grade) * mass recovery * 81.5% refinery recovery) = 9000 tonnes V205.
Mass recovery in this equation is about 34% to get to 9000 tonnes to make this equation work (which is close to the 32% in the table). Mass recovery by definition here is the recovery or how to improve recovery in effectively producing a vanadium magnetite concentrate. That is what I have been seeking to understand. This Ann here essentially explains the concept for a defunct project I suspect where they were dealing with this type of issue noting mass recovery for them appeared exceptionally low given the concentrate the METs were producing -
Post #:38052937The METs here like in the above embedded post are about particle size (which influences the mass recovery) and then the 90% is actually the recovery of the accepted particle sizes in a nutshell from that mass that forms the concentrate. The METs for VR8 are here -
Post #:45408534 For the record AVL is sort of confusing its figures because it is only targeting an aspect of the resource where mass recovery is larger than what it actually is in other areas, meaning it has more waste/loss in concentrate to deal with as well IMO.
In simple terms the equation is 12,000 * 2.71 * 34% * 81.5% = 9000 tonnes V205
To convert to published data 1.6mt * 0.75% = 12,000 tonnes grade. Divide by 2.03% = concentrate of about 600,000 but grades 2% btw. So 12,000 *90% * 81.5% = roughly 9000 V205 in this example, but this is after the particle size has been determined in the concentrate, but what I am after is the loss in forming the concentrate itself through the particle size restrictions. Looking at the issue in two different ways btw but the point about looking at mass recovery is that informs IMO where you can improve the already good economics significantly here.
I suspect this is where they are looking for the most improvement and I suspect they will increase this significantly in due course given what TMT and AVL report - meaning better economics here given the resource is pretty good, and plenty upside given the low capex and opex spend here and decent amount of output. I suspect we are talking different concepts here btw, but that is fine. In the table they state recovery into concentrate (mass) which is where IMO the particle size issue tackled by the METs comes into play.
As a final point, I started going through all the Anns including the earlier Anns and found this in this 2019 Ann -
Post #:37247127
From the mass you recover you produce the concentrate containing more than just vanadium. Hence why in my earlier post if they can economically recover the Fe/Ti it will be a significant uplift as well to economics here.
From the PFS:
Post #:53998607 Basically the V205 is taken out from the concentrate and the rest essnetially becomes tailings. If they can extract the Ti/Fe from those tailings there will be a lot more to further like here.
All IMO
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