"So whilst I still think the LOM is what they are quoting, the CAPEX and OPEX might both come under pressure at some stage when the primary target ore is depleted."
Exactly my thinking.
Nameplate is a "has-been" metric for investors. We all have expectations that 22,000 tpa TREO target will be achieved by EOY. That is what is being baked into price now, if it has not already.
The mining end of the operation has lots of headroom; the LAMP is the limiting process. They could probably successfully feed a LAMP with 50% more capacity for years. Grade should only drop off very gradually now. Long term is where apatite comes into play, but they'd probably like to be able to blend. Just thinking out loud there.
"So whilst I still think the LOM is what they are quoting, the...
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