SFX's deposit is over 60 times the size, still open in all directions, no impurities, 6 times the grade at the same capex of $200m.
No brainer who the tie-up will be with.
MZI are further advanced tht GUN. They have halve the finance and offtakes done.
Mining sand at 3% is difficult. Mining it at 1.25% is dowright stupid. If you used GUNs numbers of 1.25%, halve of WA would be a chance. (Industry cutoff is 2.5%, 5 years go it was 3%.) DH was silly to even chase this dream.
Not here to give you bad news, just industry facts.
I dont own any WA sandminer including SFX.
P
GUN Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
