How Much Chromite At Decar? General Composite Head Grad
The composite sample head grade shows chromite (Cr203) at 0.4%. Interestingly, this same table shows magnetite (actually Fe3O4 but mistakenly labelled Fe2O3 in the PEA) at a whopping 8.28%, substantially more that the average 5% I have seen published elsewhere.
For now we will ignore the fact that there are sporadic chromite pods in the area that can grade up to 50% chromite. (50% is not a typo.)
Assuming only 1/2 of the chromite can be recovered, and mining at 114,000 tonnes per day, we have:
.5 X .004 X 114,000 = 228 TPD x $300 per tonne = $68,000 per day, or $25M per year. Should be enough to quickly recoup capital costs of required equipment.