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Comprehensive - progress continues!
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.
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
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
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.
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
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.
Yes snowking
Hopefully moanygirl will STFU now and let her report to the FCA. that’s just how pathetic she is.
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 .
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
Snowking.... The Buckfast is on ice, nearly opening time.
Good luck everyone
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.
I think that canmax are not an unrealistic company in regard to third party designers. If they wanted to pull the plug on this, they have had many opportunities to do so.
So why haven’t they..??
Stark we’re employed to design,supply,install and commission the plant to the design output agreed and they haven’t completed their contractual requirements before their contract was determined by GR maybe for underperformance
Gaza, we don’t know the tender data sent to stark by George. It all starts with that document. If that’s rubbish the plant is rubbish. In my experience it’s usually a bit of both. George will not want to lose face so blames others. I’ve seen it many times where people blame others. George needs to take responsibility and not pass the buck.
True PM01 we don’t
But if it’s a design and build tender then everything lies with stark.
I couldn’t see it being anything different as Prem don’t have the in house capability
And if the individual items are not meeting design performance then it goes to OEMs
On a project such as this with all the design mess ups. The commercial side goes out of the window and can be recovered at a later stage.
The only priority is to sort the design issues and get the plant running to design capabilities but this takes time breaking down the individual issues to find out where the problems are. Prem are doing this with the new contractors as stark couldn’t do it. That’s why they were kicked off.
This RHA all over again, George has zero real idea how this processing plant works so there fore he doesnt know if the contractors are doing the right things, and he has hired the cheapest company to implement it. just like he did at RHA where he had no clue what was going right or wrong because he had no clue what was right or wrong. now Prem are here. in a similar mess. He hasnt learned from his mistakes at RHA and now this will go the same way. down the plug hole.
Gazza4563
The commercial side never goes out of the window, it is the whole essence of the Zulu mine.
I am feeling rather disappointed with the RNS,the company called in world experts over 5 months ago. Others have joined the analysis team and faults are still being drawn from the project.
I remember the CEO last year stating that the Prem crew was taking a more hands-on approach and closely monitoring progress.
DOES ANYTHING WORK TO SPEC AT ZULU.?
It appears that once again I am going to move my targets.
God knows where the finance will come from to keep the lights on, betting on yet another EGM
Not looking good for my 1000 tonnes in May and nameplate in June.
What a mess.
Acker
Acker
If the commercial side never went of the window, then why so many placings to fund on finding the design issues.
You’re going to have to just sit tight and wait for all of the design issues to be rectified
Gazza4563
With respect, I have been sitting tight far longer than the majority.
The company is running on fumes and accruing debts daily, you won't rectify any faults if the bucket is empty.
Acker
The only other way is to mothball the mine.
Then everyone loses
Stark have really fcuked this up
Indeed, as I said before, nothing for April and now certainly nothing for May. My worries will begin late July in case of no sales and revenue, at that point another raise will be a must (whether it gets aporoved or not that is another matter). Selling a few tonnes of SC5 will barely make a dent in the debt owed.
Stark left a mess and will be more months until resolved, if.
Let's see what GR has to say in the interview but we're clearly no out of the woods yet.
Can CANMAX pull the plug with this delays.? Acker I have been sitting tight since 2017 and fed up.