Member Info for Dcat80

No probs, only small holding here and slightly under water so don’t post much. Still very hopeful though.

In respect of drilling in kalahari, I suspect even stabilizing the rig is more challenging (wise man did build his house open the rocks, although I doubt we’ve much to worry about the rains coming down and the floods going up..,). Plus sand collapsing into holes, however I’m sure reference was made to drillers with experience in the area.

DC - thanks for your recent post on what’s due, had forgot just how much there was.

Longer they stay high the better, at current price the additional annual revenue over the price used in PEA exceeds current MC. It won’t stay this high forever, however strike whilst the iron hot ;)

https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/07/05/Iron-Ore-to-Rise-Further-as-US-Infrastructure-Deal-Aids-Recovery-Outloo-Q3-Top-Trading-Opportunities.html

https://www.coatingsworld.com/contents/view_breaking-news/2021-07-08/titanium-dioxide-market-worth-279-billion-by-2026-marketsandmarkets/

Sandfire got their mining licence

https://m.miningweekly.com/article/sandfire-granted-mining-license-in-botswana-2021-07-07

Don’t apologise, number on here refuse to use twitter for starters! Yes it’s good news for Valore, can’t help but suspect they’d already reviewed the satellite data they’ve already had success with before bidding for the new tenements!

Both fodere and TNGs processed are proven, albeit not on a larger commercial scale yet. The pilot plant for fodere being commissioned should give good guidance on that process well before Jangada have to consider route and commit any significant funds, let’s call them a guinea pig?

Very interesting, I knew about Tronox and their Brazil operations (bigger company than largo with a $3.41b USD MC), however hadn’t picked up on their mine being depleted.

There’s certainly options there, ore trucked to port pecan then shipped to near Salvador.

Also worth noting brazil already has to import tio2 and that’s with tronox producing in country.

No probs. Fodere look a really interesting company and I for one small excited about their prospects in the future, how will they look to develop their business buying the pilot plant? Will they look to produce and run many small scale plants themselves? Will they licence their technology to companies with tailings for say a royalty agreement, or rent plant they have build to the 3rd parties? There are any potential options for them and it would be great to get an understanding of their longer term business plans.

In respect of understanding processing of hard rock Tio2 you might want to look at other companies projects further progressed in their studies. On the ASX that includes neometals (also planning a London listing) and TNG Ltd with their Tivantech.

TNG you’ll see have grades roughly half those of pitombieras, much larger reserves as they’ve drilled much more out, however it’ll give you a feel. I believe for example their opex is circa $150 per tonne ore processed. If Jangada were to reach an agreement over using their tech on our non magnetic ore then you could foresee margins if over $750 per tonne pre tax (and any licencing fee).

Neometals model envisaged similar to what our stage 1 is, but then both the magnetic and non magnetic ores shipped to offtake partners.

Tio2 will be hugely significant to Jangada, if that I’ve no doubt. I’ve also always said though we’ll be developed in multiple stages and with trial mining limitations and budget restrictions it’s likely to be a later step. I really do hope we see some initial inductions of the significance in upcoming test work and economic studies, although with focus being on shipping the magnetic concentrate I’m not banking on it yet.

It doesn’t tell you much, but this is the last article I’ve seen on fodere

https://m.miningweekly.com/article/new-titanium-processing-plant-headed-for-s-africa-2021-03-05/rep_id:3861

£465k invested as of the end of January 2021 update, which included the comment at the time they were working on the 2019 accounts and expect them to be available in the coming months.

At that time we were also told pilot plant was being commissioned for Q4 production. I imagine they’d look to float before then to get working capital for when they start production, assuming of course they don’t get any advance from offtakers to cover those.

Fodere technology is suitable for the type of deposit we’ve got, whether it’s best suited for our chemical make up I would imagine you’d only know upon various tests. We know a number of such tests are currently being carried out which will set route for the best part for benefication. Maybe that RNS when it lands will give us further insight on that regard.

It would be nice to see a presentation on Foderes website with some projected finances for their project, help us gauge the potential value of our investment. If they are preparing an IPO I’d expect a whole raft of data to become available alongside an admission document.

The VTM appears to be average later of circa 25m with mafic/ultramafic rock surrounding. The other targets as yet undrilled might differ, but until drilled my expectations also 25m.

The mafic/ultra mafic rock might have cobalt, copper, nickel, PGMs and/or chrome I.e. as per Pedra Branca, if so could be anywhere between non commercial trade amounts through to something much more meaningful. We’ve not seen comment on that rock type yet…

No probs. Quiet day so you didn’t distract me from anything!

4.44m, 3rd june wasn’t last week though which is why you confused me!!

Last one talked off was I believe was 4.44m, can’t recall one from last week.

The purpose of a PEA is to demonstrate viability of the project for financing purposes, something it has clearly done. Once financed and built its largely irrelevant with grade mined, recovered, amount saleable, sale price achieved, costs etc all replacing along with updated reserves showing what’s remaining.

If anyone is seriously expected the operation to remain as sale of magnetic concentrate only for mine life, for the resources not to have been upgraded with current drilling, for metal prices used in the PEA to remain exactly at price used in PEA for start of mine and to exactly average those figures throughout the mine life they don’t get the point of an assessment.

Payback will of course vary on commodity prices at the time, they are currently well north of the projections used in the PEA. The PEA being an assessment done by GE21 mining consultants, a company who include Anglo American, Vale and BHP as clients to name just a few.

I wouldn’t focus too much on a snapshot which is already outdated, it gives guidance only.

The important part of TM as I stated yesterday is it’ll provide cash to cover company general expenses, enable more aggressive development (more drilling, test work than we’ve been spending to date) and potentially with current prices at least enable the build up of strong cash reserves! At later stage of full mine build, which will get a further more detailed assessment at some point, the financials will hopefully support a decent dividend payment - although that’s obviously not on the cards for now!

Gallmat. TM is allowed under an exploration licence, move to full mining licence and you can tailor to your needs

O&W- agreed. TM allows you to work within constraints, the plant capacity is twice that of the TM limit and more importantly appears to restrict our ability to monetize the non-magnetic ore.

Income from TM will very clearly cover general company overheads and accelerate the rate we can progress the wider project, potentially adding significantly to cash position as well, the extend of the latter being driven by the iron and vanadium prices both of which are highly volatile at the moment.

TM is a big financial derisk for us, it is however a stage and not the overall prize.

Yep. PEA looks to have an assessment of working within the Trial Mining framework.

We’ve discussed the project will likely develop over a number of stages. TM is effectively stage 1 and the PEA we’ve seen just envisages this style operation continuing throughout the mine life with no further stages. It’s purpose was to demonstrate even at its most basic stage it’s economical, being able to demonstrate a mine being economical being a requirement of trial mining.

Believe the PEA envisaged circa a 6 year mine life based on the maiden resource report of 5.5mt. 2 years at 500k PA (producing 300k magnetic concentrate) followed by 4 years of processing 1mt (600kt magnetic concentrate).

I’d expect the additional 10% processing capacity to cover any planned maintenance or plant breakdown or recovery rate.

The original logistics report released end 2019 should give clue as to what to expect after 2 years, doubling of limit to 600k although id expect a review at this time including site visit.

https://www.lse.co.uk/rns/JAN/study-identifies-export-routes-vanadium-project-m1muykxfe10ohsa.html