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capital and OPEX cost which produces a product which can be sold to battery producers. Presently we have no figures to go on here. The next step after the scoping study, which will give us a rough idea, is to do a full DFS for Stage 2.
Courtesy of RecoveryStock on ADVFN....
Courtesy of RecoveryStock on ADVFN....
The best way to explain dmtu is it is the quantity of ore that has 10Kg of contained pure metal. So 1 Tonne of ore with 1% metal is 1 dmtu. 1 tonne with 2% is 2 dmtu or 500kg of 2% ore is 1 dmtu. So for Neyaga annual output it is tonnes of concentrate produced in year which starts at 72,000 and rises in about 10 months (maybe less as long lead items were bought and have probably been sat around waiting for the licence or are due to arrive very soon) to 300,000 x average grade of concentrate achieved - we think this will be around 38% but it could be higher (bulk sample was higher) or lower (bulk sample projection was 35%).
That is stage 1 which lasts for about 6 years based on current reserves, but might extend a bit as exploration happens. The ore is Manganese Oxide which is better than the South African Manganese Carbonate. This will be subject to an offtake deal, maybe only for an initial period rather than the whole stage 1 LOM. The mining and benefication in stage 1 is very simple - dig it up, wash it, screen it, stick it on a truck and send it to the port. Keras is providing the capital washing and screening equipment (more being bought to increase capacity - funding may come from offtaker but a debt facility is already negotiated and is conditional on the licence being granted) and the turn key contractor is doing everything else. This gives a high degree of certainty to the OPEX cost per tonne of concentrate of $77. The per dmtu cost depends on the actual grade achieved and $2.2 per dmtu is based on the conservative 35% figure. The Shard note only covered stage 1. It also had adjustments for other costs which effectively cut EBITDA in half when converted to project cashflow. However the bulk of those extra costs seem to be a management fee paid to Keras. I could not fully reconcile Shard's figures but what seemed to make most sense was the fees and taxes were taken as % of the top line ie revenue. If this is the case then KRS gets 7.5% of revenue as a fee and gets its 76.5% of the bottom line cash flow. I did ask for clarification but did not get a reply. I am expecting all to become clear when the DFS is issued shortly after the licence is granted.
Stage 1 uses up 45% of current reserves (likely to expand with ongoing exploration) this is the surface stuff (eluvial rubble). The other 55% of the current reserves to be exploited in Stage 2 is the transitional and saprolitic stuff and is where the silico manganese comes in. This will require additional processing (probably SO2 leaching). The scoping study, which again should be released either with the DFS or shortly after should provide some greater clarity on which way to go with exploiting this. Some additional benefication on site is necessary and there will be a capital cost and additional OPEX. The value of the product should be greater. There is also an option of going further on site at greater c
If you expand the photo you’ll see both ministers have their hands clasped together in front of them.
However Russell has his hands behind his back.
Now, what do you think he’s hiding in his hands behind him eh?
Let’s put it this way, it’s not a rabbit.
Answers on a postcard ;-)
Ministry of Energy and Mines: The government's roadmap and objectives explained to department officials
atlanticinfos - October,26 2020 - Economy
Minister Mila Mawunyo AZIABLE, in charge of energy and mining, chaired a technical meeting with her staff on 20 October 2020. The aim of the meeting was to present the government's 2020-2025 roadmap and its objectives, including the contribution of the energy and mining sector.
The government's roadmap is based on 3 axes, 10 ambitions and several projects and reforms covering the period 2020-2025.
As the energy sector is a cross-cutting and strategic sector, the Minister urged her staff to be more engaged and proactive so that the department can be ready for 2025. The key players in this sector will have to put the butchers double to achieve a 75% electricity access rate, increase the share of renewable energy in the energy mix by 50%, contribute to the development of the existing grid and improve the quality of infrastructure to significantly reduce cuts.
"To achieve this performance, several projects and initiatives are already underway in the field, including the Phase 3 and 4 rural electrification projects, the construction of the 65 MW Keleli Efficient Power thermal power plant, the 50 MWc Blitta solar power plant, the CIZO presidential initiative and many other projects with near-complete funding," the Minister said.
With regard to the mining sector, there are two main objectives that are attracting attention. This includes accelerating the exploration and exploitation of mineral resources and the launch of a phosphate fertilizer production unit.
The Minister Delegate to the President of the Republic in charge of Energy and Mines reassured her staff of her determination to work with them efficiently and effectively to achieve the objectives assigned to the department. Mrs AZIABLE recalled the special interest that the Head of State, His Excellency Mr Faure Essozimna GNAzSINGBÉ, attaches to the effective implementation of all his projects. This is why the contribution of each employee is very essential.
Which particular street is it you live in then Jim?....
https://maps.google.com?q=Hope,%20Hope%20Valley&ftid=0x487a2c9e7461625d:0xceb30def00b99993&hl=en-GB&gl=uk
Hi Prop, just to let you know I’ve been buying Calidus in ‘chunks’ (£10k lots as they won’t buy in batches of less).
So far bought three extra ‘chunks’.
IMHO there’s so much potential there and I definitely wouldn’t be selling any at this stage.
So, now you’ve read the above, you’ll definitely be selling eh? LOL
Yes Jim, Finncap gave that 10.4p price.
Here you go....
https://www.proactiveinvestors.com/companies/news/44378/vista-gold-unveils-preliminary-feasibility-at-mt-todd-boosting-reserves-by-44-44378.html
Dated 2nd June 2015 (nearly five and a half years ago).
A post from Steve, I’d love to see his views on the license (or lack of it) now.
Posted in: FRX
Posts: 1,435
Price: 0.55
Strong Buy
SP drop02 Jun 2015 12:52
I took advantage of the fall back to buy @ 0.585.
With news due soon re Togo license, I am hoping I have my timing right.
Ciao
Steve