RE:Comparison of NAMs Palladium and Rhodium to the Platreef, SATrueCanuck1 wrote: Comparison of Palladium and Rhodium in NAMs new March 2018 NI 43-101 resource estimate to the Platreef PGM open pit mine:
I did some research into PGM open pit mines and found the Platreef PGM open pit mine in Bushveld, South Africa a good starting point. The World Platinum Investment Council (WPIC) research states that the different PGM ore types in the Bushveld all contain slightly different geological characteristics (i.e. depth of deposit, concentration of PGMs) and different ratios of metals (i.e. ratio of platinum to palladium, rhodium, and gold; and concentration of base metals such as chrome, nickel and copper).
WPIC states that in the northern part of the Bushveld, the PGM ore of the Platreef is close enough to the surface for some mining to be open pit ; i.e. the ore is accessed directly from the surface rather than through a shaft . Unlike underground mining, drilling and blasting in an open pit mine is mechanized. Trucks and shovels can be used to move large volumes of ore; making open pit mining quicker, cheaper and safer than underground mining.
Platreef is currently mined up to 250 metres deep. WPIC research 4E = total of platinum, palladium, rhodium and gold grades (grams PGMs/tonne) in the range of 2 to 5. Base metal contribution is 0.25% nickel and 0.15% copper. Processing temperature is high.
The average % of rhodium in the Northern limb of the Platreef is 3% with 48% palladium. NAMs new March 2018 NI 43-101 resource estimate reports the Total Measured PGM + Au at 3,297,173 with 84,532 oz of rhodium, or 2.5%, and 2,259,112 of palladium, or 69%; and Inferred PGM + Au at 1,578,367 with 32,089 oz of rhodium, or 2%, and 1,104,457 of palladium, or 70% . This is a good correlation between the Platreef deposit and NAMs.
Conclusion: NAMs deposit has a slightly lower rhodium % but a much higher palladium % than the Platreef.
If this is proven through the PEA and updated drill results, most of us longs are going to make millions off the shares we already own.
That's a waiting game I can certainly live with.
BR