West Kytlim - Going great!30 Sep 2021 21:47
Mon, 15th Mar 2021 15:55
"The Technical Project is based on concurrent production at three pits, the first two being Kluchiki and Bolshaya Sosnovka (the largest pit at the entire deposit of West Kytlim): mining at Kluchiki (mined through 2019 and 2020 seasons) is ongoing whilst Bolshaya Sosnovka is being prepared for mining (please see our website for recent photographs from site)."
NOTE: By 15th March 2021, the largest pit at the entire deposit of West Kytlim was not READY!!!
It was being prepared. Today's interim report is for 6 months, Jan - Jun. "Interim Report for the six months ended 30 June 2021"
Therefore, the numbers you see today are NOT for all 3 pits concurrently producing as the crooked Shorts will have you believe. The largest pit was not in action till late. It is now. Which is why EUA told you, revenue up 9 folds in comparison to this time last year, AFTER all 3 pits started concurrent production. The figures you'll see for WK next time will be
much higher. WK will not make a loss. EUA are no mugs. They've not invested big at WK to make it a loss making asset. WK will soon be a divi spinner. There's lots of Rhodium and Iridium at WK.
Cost
"With the successful DFS development by GIP (an independent technical and engineering consulting company) and the state approval, the Company engaged GIP to develop the Technical Project for the entire West Kytlim deposit (the "Technical Project") including an ore schedule for all areas/pits (Malaya Sosnovka, Klyuchiki, Bolshaya Sosnovka, etc)."
Much of the cost must have gone on the DFS and scale up work on WK. GIP do not work for free. Cost will not be as high as you see it today. All the ground work has been done and from here on, its production and profits.
One thing is certain, EUA declared today that they're one of the majors. They know the resources and reserves they have (not all made public yet) and can compare with the rest. But put all their assets together,WK,its flanks,MT its flanks, Rosegeo 9 assets , they're in the big league.
JORC coming shortly. I very much doubt its days away but you never know. Mega sale for Kola may come just after that.
#Patience #ignore the £50 per point deramper like TMS and his crew.
Cash in the bank
EUA said they have enough for Rosegeo. Meaning they have enough to prove all 9 to JORC. JORC is a requirement in this JV. EUA have enough to get JORC on all 9 and may be buy the 25% they have option to take 100% ownership of all those assets. The Kola dream is almost complete. Whoever takes it will produce PGMs for 60% less than they do in South Africa.
HODL