Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Croissant
Where are you picking up that there has been a four week extension? Is it a reliable source? My understanding is that there would have to be new evidence which has not yet been considered to cause a delay.
Ian Gordon Hall Dun, I'm wondering Sir if your information on ferberite and optimal circuit process design has hit the bullseye, as there's been an unexpected four week extension to the D&C EA consultation. If so, hopefully it's a jackpot winner, rather than a torpedo that sinks the Good Ship Tungsten West and all those who were sailing in Her.
Are you able to cast any light on the matter?
ATB Croissant
You might be right, but you might not.....
https://www.twobirds.com/en/insights/2023/uk/what-is-the-uks-critical-minerals-strategy-and-how-does-it-compare
Summary at the bottom of the page 2nd sentence "Whilst...."
It gives more time for people to pee on our chips. There's so much red tape in this country, it's a joke. People don't want industry in the UK. Too much green wash.
I wonder if anyone has noticed the 4 wk extension to the consultation period, just slipped by the EA?
Several sources indicate initially a 6 wk consult period terminating 7th May:
1) RNS 25/03/2024 - 6 week consultation period , termination date 7th May (if you advance from that date on the calendar)
2) https://www.wired-gov.net/wg/news.nsf/articles/Final+consultation+on+permit+for+Hemerdon+tungsten+mine+25032024152500 - states 11.59pm 7th May; and
3) Way back machine for the EA webpage itself - impression #2 https://web.archive.org/web/20240406214139/https://consult.environment-agency.gov.uk/psc/pl7-5bw-drakelands-restoration-limited2/ - this version of the web page clearly states "Closes 7th May 2024"
I wonder what caused that? Any ideas???
Is this going to be the make or brake of us going forward when we receive the EA report? Does it all depend on how many people object to it? The issues raised can be addressed.
@vii. I know this has been discussed here before.
Are you alluding to the sidings at 50.395619,-3.997650 (sorry long/lay not OS grid ref). Due south from Sparkwell.
I can't see it happening myself. It would go through a sensitive area. Public objection. Unless it was a tunnel (sirius style).
It's a couple of miles as the crow flies. Not convinced the volume of product would warrant the enormous CapEx. Just my view.
ATB LB
Very good! An observation from a OS map study
@VIS - is this "the inside track"?
Croissant:- "You'd expect more truck movements or some rather large trucks."
or a conveyor to rail sidings perhaps..........................
Definitely. Aggs is a winner. It could rival the tin stream if the margin was 10x, but 3.5 M tonnes is a lot of rock to shift. You'd expect more truck movements or some rather large trucks.
There's a rehandle cost saved if TUN can sell as many tonnes of granite as they can which I wouldn't think is included in the £1 per tonne as the waste movement is part of the metal production cycle. Plus, sending less waste to the rock dump presumably extends the life of the MWF.
The aggs part of the business is more positive to the overall NPV than I feel is let on, I am sure they will be back in for 200+ truck movements once they have the MPF permit wrapped up.
Nice one LB. Thanks for the info.
I think I can add some clarity regards the Agg business. They have planning permission for 50 truck movements per day. I believe they wanted 200. Increased traffic movement was objected to so to maintain good community relations a variation was sought to increase tonnage carried per load - that's what the variation order was for, and its been granted. I'm sure they'll apply for movement increase variations in the future, but it was sufficient to run the aggs off site (approx 100,000 tonnes got moved).
However, the aggs are a by-product. The cost of extraction can be bourn by the sales of the concentrates but not by the aggs themselves. If they were to run at full capacity throughput (3.5M tonnes) they would make circa £3.5M based on the data supplied in their reporting (£1/tonne profit). They've vertically integrated the business through a JV / partnership with a company called GRS for aggregate sales, so they're having to split the proceeds. I think that there is a lot of upside in this profit centre once the business is properly established. In an ideal world they would run the circuits and separate the high yield mineralised rocks using those TOMRA COM sorters which they purchased, storing the high grade material on site and shipping the aggs. But, its not self sustaining which is why it's the last income stream to be engaged in their FS.
Finally the reason they've suspended the aggs business is that they have processed all of the latent "waste" material from the WOLF operations. As the site is in caretaker mode no more by-product is being produced. They very efficiently cleared all of the aggs stock, proved the business viability and boosted the environmental case regards the MPF permit application ("zero waste").
So, returning to the permit. The D&C EA currently have a fantastic video online detailing the noise issues and the proposed abatement measures to be implemented. Noise abatement is the biggest CAPEX component remaining, I believe. Hopefully we get a rapid response from the D&C EA because the faster their response time the higher the chances of a positive outcome. ATB
@Croissant - I'm local(ish). I do however know a local landowner quite well. There's nothing concrete that I know about or heard on the grapevine. There's a community engagement program on going at the moment which coincided with EA consultation period starting. But it's mainly a low key affair targeted at the surrounding parishes. Basically coffee mornings.
It's worth noting that the main reason the aggregate business was put on hold was due to local opposition to increased lorry movements and the impact on traffic / noise / road damage. I personally suspect they suspended the aggregate business as a gesture of good will to help smooth the path for the main MPF permit.
If you search out the previous noise reports there is actually very few properties directly affected. Remedial measures relatively easy to implement. I'm guessing (hoping) that in order to legitimately lodge a compliant about the EA report it will be necessary to prove you're directly affected.
We'll have to wait to see what transpires. Should know soon. Next few weeks by my calculations.
There's a couple of other posters that are also local. Maybe they will contribute any info they have.
Fingers crossed we get the MPF approval soon.
ATB LB
Just a couple of quick questions for those on the board who might be local or know the area:
What is the public perception of the project?
and
Are you aware of any formed pressure groups fighting the application?
Publicly available comments are very thin on the ground, so it looks like it's getting a fairly calm reception. Thanks
Wres rns's
https://www.lse.co.uk/rns/WRES/
Yeah gingy.
you can see it on the q3/4 rns on the old wres tungsten mine for yourself
think they started the new mine and plant in q3/4 of 2019
another 3 months to get everything up and running
as you can see,18 months later,they couldnt get the mine,to produce concentrate in commercial ammounts...
prem...that started off as a tungsten mine,then moved over into lithium about 10 years ago.
cusn/sml /gmet and thr.....those 4 also have tungsten licenses and old mines,waiting for someone to buy um/get um going.
The Aggs stream was there from the get go, but excellent hire to back it up. They claim £1 per tonne profit - there has to be more upside than that.
I'm turning my attention to these government backed funds for critical mineral development. If ever there was a project in need of a grant surely it's Hemerdon. Liz Trust as PM visited the site - hopefully that matter was discussed. Have you seen any promotional material regarding that visit? Slim pickings on the internet. Perhaps it was downplayed because of her sharp exit??
Hi Troajan, thanks for that. So, which ever way we look at it, we could be talking about another 3 years to get back to production if all goes well .
Evening Croissant. wont say i filled my boots, but I did fill a good pair of shoes! Bougourd has quite a track record and looking into other players it seems a very capable team. the added aggregate experience of Edwards is interesting. All looks fine. Patience will tell. GL
Gingy
say an rns lands and say.."here's the money you need"
then,depending on what changes and upgrades are going to get done.
that'll take probably 6/12 months..
then once its all up and oven ready
it'll take another 3 months,to run the upgraded plant/mine ....in
then its the hardest part of all,the ramp up to full production and that'll take 12 months,if your lucky.
ime going by the old wres and ormonde mining stats,from a few years back....and i know valuation it is,is aware of those 2 bad boys.lol.
gl
New5 - (impressive ave - I hope you filled your boots)
It's going to happen at Hemerdon. I have no doubt about it. I suspect the FS Rev 3 is already done. What they're actually doing for the next few weeks is scouring the earth for investors willing to plough in £30M. This is why they hired Bougourd.
They need some positive cashflow and once achieved this mine will thrive. ATB.
Does anyone know when we hopefully get EA approval, and how long to get to production?
Morning croissant. you have clearly done your own due diligence. I have been watching this with some interest for a few years but did not get on board until the face plant (I Ave 1.27). Having gone through all relevant and available info (RNS, FS etc ) I find nothing of concern (I could be wrong and may have missed something). For myself i find it a rather exciting and interesting project, I hope we see W mined and processed again in this country in the not to distant future. Good luck.