The PFS Shows a maximum 9% super jumbo and 29% in Jumbo for Namangale 2. Namangale 2 is now part of Namangale South which is 23Mt Inferred plus 33Mt Indicated.
Namangale 1 (Now North) is the vast majority of the resource size and that has 1% in the super jumbo category and 13% in the jumbo category. 264Mt inferred, 122Mt indicated and 20Mt measured.
Seeing as Namangale North is 10 times larger than Nam South in the inferred category, this means that 10 times more of the product has 1% in super jumbo and 13% in the jumbo than the much smaller but better distributed Nam South.
Blended basket price of Nam North is $1594/t and blended for Nam South is $2200/t
Doesn't look anywhere near attractive when put like this does it.
MNS has overall concentrate grade of 9% in super and 32% in jumbo which in turn means they actually do have superior flake distribution over their entire resource. (See BFS for details).
VRC short term achievement summary, page-10
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