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0.10p incoming.
Did I miss the part of when CanMax will receive contracted amounts ?
In 2025 ?
If the equipment was specified correctly and doesn't meet the design spec, then it will be the OEM not stark. And the OEMs cannot afford to be bad mouthed for providing inadequate equipment, they would go out of business.
Wot. That would require legal proceedings imo, that would be something for the future and wouldn't help the current situation. Stark should be rinsed for their part in this and perhaps even investigated for insider trading after ramping the progress in order to dump their shares.
Sounds like the whole plant needs replacing!! Any legal action against stark will take years and cost millions!!
Always like coming back here just to bring me back to earth
Good morning everyone ☕️🤠
The plant was supplied with a magnetic separator and a circuit intended to remove both a paramagnetic and a magnetic fraction for bagging. The magnetic separator supplied is low intensity (LIMS) and cannot remove a paramagnetic fraction that would include tantalum. The magnetic separator circuit is further unable to efficiently remove iron generated from the milling process to an acceptable degree and will need to be upgraded in the near future.
So the supplier will have to replace them with fit for purpose units
The Company will engage an independent consultancy to assess overall cost implications related to the present mining operation. Previously, the Company has indicated a mine gate production cost at $800 per ton.
Neither the XRT or the Ultraviolet sorters are adequately performing the functions for which they were sold and delivered to the Company.
Morning.
I must say this is the first time i have read an rns from GR with good details and honesty. His actually telling us of the old/current faults and future needs, more in depth.
His tone seems to have "matured" a little imo and I guess canmax have influenced this somewhat. Fair to say GR himself has learnt a lot this past year.
Onwards and upwards.
More delays, faulty or incorrect equipment installed, equipment needs replacing/upgrading which will need cash, 50 tonnes a day which barely pays to turn the plant on and the usual rampers are calling this a good RNS!! This will take months to sort out and a lot of cash which Prem do not have!!!
Snowking.... The Buckfast is on ice, nearly opening time.
Good luck everyone
SK, I think we are all past believing GR's interviews, but some positives in the RNS for sure, lets hope it's not too little too late.
GL all
Clueless , let’s see what George says in an interview . I would hope Mark at stockbox can ask him .
Just think prem currently producing 5.3% and I think that matches pillbara production grade if I am not mistaken . This is an achievement as it is clearly going to improve .
Yes snowking
Hopefully moanygirl will STFU now and let her report to the FCA. that’s just how pathetic she is.
Good news for a change, lets rock and roll :O)
If that were the conclusion with Canmax SK then why not put it in the RNS? a pure guess! lets cross our fingers and hope it's the case.
So the rns shows clear confirmation that the plant is producing saleable spodumene , current grade 4.5% to 6.3% . If you take it as average 5.3% than it getting close to the 6% required . However the rns says current grade is sellable , so the conclusion must be that canmax are happy to allow shipment of this grade whilist their is a period of ramp up .
This to me is important and by deduction should mean likely shipment is likely in late May .
Let’s see what a stock box interview says on this , but this is a good rns , we are at last producing
Ave spod is 5.4% and 2000 tons, can go to 4000 tons so it will eventually work as planned,shocking that its taken this long,with the extra pumps/seperater and floatation sorted ramping up to a possible 100 ton per day is at last looking promising,i hope they got there money back from the idiots that designed it in the first place... looks like they were still tryng to polish a turd, , the 90% recovery also looks very promising for plant efficiency.
I am not going to explain the technicalities but in short this plant has been under designed by stark who were kicked off by GR
GR as a CEO isn’t technically minded. He as relayed what stark have told him over the last 16 months.
If you are looking who to blame for misleading then blame stark.
I hope GR sues stark and sends them into administration
I also hope that stark are never employed again to design a lithium mine
Not terrible news I guess, but far from good, I get the feeling we will see the next raise soon if this bumps the SP
Its obvious, to make a decent profit as the operation ramps up
Lots of information which is good. Now stated that “The original mill and screen system was inadequate and unable to provide ore adequately milled and screened. This set back Zulu by a year” so won’t be pursing stark for the delays. Separator needs to be replaced. Hand sorting continues. Not out of the woods yet.
Don't invest then!
Why anyone who would invest in a company that has a proven track record of deceit is beyond me