RE: Madagascar23 Feb 2021 20:48
A few notes from the Q/A from yesterday
BASE Notes: Toliara
800,000 tonnes a year of ilmenite.
Western drill results due to be consolidated into the resource over the next couple of quarters….Tim said “it’s a 100 year type mine life deposit”
Kuranze is where they are most excited. They think it could be the source of rutile at Kwale.
Scalability in Toliara, upsize potential based on where the market is going. JV that comes with an offtake has an advantage that it can underwrite an earlier increase in scale because of the way it breaks the back of the marketing effort. Tim is pretty excited about this as a feature of this project.
They weren’t driven by optimizing NPV in determining the size of the project in the BFS perspective. At the time it was based on the amount of product that could be sensibly put into the market. Their view on that has changed and they believe that they can make it bigger.