Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Just for you Trowtech I had a quick look back through my posting and was clearly saying the ACF report wasn't worth the paper it was printed on as the SP was heading up to it's high's. I have always been considered a deramper, maybe you are confusing me with someone else. I have always said there is potential in the area but ramping it up, far from it. I was constantly calling out the rampers and highlighting Mac's bullshine.
Hi Trowtech,
Far from it, I was negative in many respects from my first post years ago and continually tried to dampen the expectations around the price people were expecting and was very unpopular because of it.
If you can find any ramping in my past posts then feel free to bring them to everyone's attention.
The WAI report is only for the underground mine whereas both Russian reports include all at NKT and the second Russian report details the open pittable area. The Ni figure from WAI stands out as high compared to the Russian figures. You can see the Russian figures for Copper in the whole area as higher than WAI from just the underground part (as you would expect) but both Russian figures for Ni from both areas come in below WAI figures for just the underground area. Just saying, no conspiracy theories, not saying WAI are lying etc.
Hi Geldautomat,
WAI were working on processing 107M tonnes of ore whereas the Russian report was for 60M tonnes. The Russian one has higher amounts of Copper being recovered and slight increases for all other metals as well, also higher grades of all metals.
If both WAI and the Russian reports are working from the same past drilling results it's hard to understand the differences in amounts of each metal recovered. The lower tonnes of ore processed can be through using more efficient machinery to remove ore in the mine, it's targeting thin veins, larger machinery may remove more ore than specialist machinery so more ore needed to be processed to recover the same metal content reducing the grade of metal recovered per tonne of ore processed.
I have asked it to translate, it says it has but only gives a small amount in English.
I have also requested the Research document from the authors but nothing as yet.
Both are essentially the same document and seem to predate the WAI report which may be based on these documents hence my interest.
I can't seem to get a full translation of a document I would like to read, can anyone help please.
Search for tsnigri.ru view 119/116
It should lead to a report "Opening and mining of Platinum, Palladium, Copper and Nickel Ores at Nittis Kumuzhiya Travyanaua Area".
A posted link to a translation would be very welcome.
Hi oldspursfan,
Yes, that's a more accurate record of what he said.
To me a proposal for a potential acquisition of substantially all of the companies assets is an offer, how do you propose an aquisition without an offer even if that offer is a bag of sweets. Was it "I might make an offer but I haven't decided yet", might cover it at a stretch. Smoke and mirrors.
Hi Makeabundle,
Prospective buyers have been doing DD since early 2015, the result is one offer for substantially all of the company, the offer was never revealed, was clearly turned down and now, what with the war, is unlikely to be matched again IMO which is clearly different to yours and which you are entitled to.
Do the BOD sound very positive from their recent comments. If people have been wanting to look into EUA from a view to possibly purchase it's assets and nothing has come of it so far then maybe CS is dellusional. Time will tell.
Hi Trowtech,
I said earlier I can't put a price on it currently, there is so much missing from EUA that it makes it hard to know what they have that is economical which is not how it should be and is why I sold out some time ago (only a small punt currently held).
The WN area at MT was open into the NKT area but there has been no further detail added despite work to understand it having been done. Have they done any step out drilling there to define a larger resource? The L pit at MT contained over 70% of what's at MT from the Maiden resource but is a deep pit which will up the stripping ratio, can they extract to 350m economically, what proportion of what's at L falls into what could be an underground mine, would it be economical to extract.
The Eurasia website says 2 thirds of what is at NKT was booked to reserves by NN but doesn't reach reserves under JORC as the PGM grades weren't looked into so is inferred to JORC but WAI say only part is inferred. My understanding of part would be less than 50% or they could have said the majority is inferred. If the Cu and Ni content were booked to reserve level then those figures could have been given as reserves as they account for most of what is there. Previous mentions for NKT said it was to P2 levels which wouldn't reach an inferred JORC resource. All somewhat confusing without more detail so will go by what WAI have reported.
There are papers I have found but haven't been able to translate about opening and mining at NKT that pre date the WAI report and are what WAI may have based their report on. Clearly there has been a fair bit of effort on Russia's part to try and attract investment to the area. The papers relate to thin veins of mainly copper and associated nickel and PGM's, are these additional to the 51 rich veins that are always referred to as having been mined out by NN or the bits of those first veins that remained as those veins pinched out?
Far to many questions for me and no real understanding if there is anyone at the table willing to bid.
Hi Makeabundle,
No, I don't believe NN were at the table or anywhere near it. At the risk of repeating myself, NN has explored the area, the WAI report was mainly based around a report by NN about NKT and their prior drilling. They know more than anyone what is there and they walked away from it and could have reclaimed areas if they were interested.
Hi Makeabundle,
If you want to convince yourself that NN have an interest in EUA then go ahead. Honestly hope it works out for you and all others invested here.
My view is I think it's more likely that I win the 1st December mega jackpot on the EuroLottery than NN buying EUA.
Hi Makeabundle,
Did I say I was thinking of a 14p sale price. No.
How much cost will there be to EUA to build a processing plant and get open pit and underground mine working, all paid for at the Khoemacau mine, $1B sunk costs for them so far.
Value to a buyer to know actual mine costs, grades actually recovered etc against the bulk of the value at EUA being in NKT with no DFS and only part inferred resources so all estimated figures and costs.
Discount with EUA being in Russia. How much at MT is economic to extract, unknown until DFS is released (assuming it is).
Etc.