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23/06/23

10:56

Post #: 68433877
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Originally posted by gobris ↑

I think that the "original figures" you refer to have been well and truly superseded by the following;
1) The change from Pyrolytic processing to Liquefaction. This has enabled the project to proceed on a standalone basis without the need for significant carbon offsetting investment.
2) The original figures were based on Torbanite processing ( 4.6 of 18.6mt JORC). The test 3 liquefaction results released 17th June have confirmed that Cannel Coal (14.0 of 18.6mt JORC) yields are also highly productive. Mark said in his June RRS presentation that "Cannel Coal was now on par with Torbanite" - incredible!
3) Mark mentioned upcoming exploration of the leases surrounding the JORC area. It appears from the scaled drawing that the leases are 2 to 3 times larger than the JORC area. Mark said that this (Cannel Coal rich) ground will "make a good project an outstanding project"
4) My understanding is that the highly productive Cannel Coal will both simplify and cost reduce the mine plan component of the project compared with the original mine plan based on Torbanite.
5) The original figures contemplated a LOM of around 10 years, again based on Torbanite reserves. This has been totally blown away by the above points 2&3. It will be interesting indeed to see the production and sales projections in the PFS!
Difficult to monetise the project for people outside of the Board and Management however I'd bet that big Asphalt is giving it a shot!
Share price short term should respond favourably to Test 4 results, Product Certification, and of course PFS.

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Mate, all that's woke, gender confused technical jargon that no average cruiser driving Aussie understands.

Biddle needs to slip off the boat shoes and get in front of a few crowds and explain it in boomer speak so it cuts through.

GRV Price at posting: 9.9¢ Sentiment: None Disclosure: Held
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