RE: Strong volume building up anticipation of Licencing and shipping update.Exodcting strong reversal afternoon and into close as a Friday.Possible update any time. Now.10 May 2024 12:55
You think this will be blue today? Give your head a wobble! The RNS was basically telling u the whole plant needs upgrading because its rubbish!! 50 tonnes a day dosnt even pay to turn the plant on!!
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.
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.