OTCQB:FGPHF - Post by User
Comment by
PIPPYLONGSTOCKon Sep 23, 2013 10:07am
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Post# 21759439
RE:No interest in EGE
RE:No interest in EGEIf you have no interest in EGE then go away...We are all getting less educated everytime we read one of your posts...
For one, high phosphate grades are not all over the place, it is very rare to find the grades that EGE has been drilling especially considering they are neighboring MbAC's itafos deposit that has an average grade of 5%...The grades EGE has been drilling will look very attractive to MbAC once they get their resource calcualtion out as high-grade can be mixed with MbAC's lower grade which greatly improves the economics of their whole operation.
Also, EGE is not taking the same route as MbAC making SSP they are taking the route of producing thermal phosphate hence the testing that was recently announced, for the first XXX years (depending on their resource calcualtion) they should be able to produce from the high-grade on their property not having to invest in flotation and beneficiation only the ovens for thermal which are minimal (~$7M I have been advised), this is a huge advantage for EGE...After high-grade is depleted they have plans to produce from the lower grade material they are confident they have in high volume (5%-15% P2O5) for this they will have to invest in a flotation facility hence the flotation tests recently announced..THe cost of this is also very minimal..somewhere around $60M so all in all they could be producing a full scale mining operation for under $100M....That is extremely rare to have these days and very attractive from an investment standpoint, especially when you consider thermal phosphate in brazil currently sells for approximately $300-$400 / ton....Selling 150K-200K a year....Well im sure you can do the numbers...The valuation of the company certainly doesnt stay here..