THOUGHTSNo matter which way i crunch the numbers...
Iron is the best format to lead with.
Iron is the highest % amongst all other minerals.
10% avg ( some zones of the deposit has 20% )
If one focuses on separating the PGE's
the extraction becomes laboreous and far more costly.
Flipping the extraction model
focusing on the iron = easiest to extract
30-40% of PGE's came out in firet pass of extraction with in the itons.
333,400,000 raw tonnes
x 10% iton
33,340,000 iron tonnes
x $125/usd per tonne
= $4,167,500,000 usd
Find a buyer that wants the iron
with a good 30%-40% PGE's
Example
Platinum and Palladium
= 6 million oz ( eq )
x 30%
= 1,800,000 oz ( eq )
= how much more would a buyer pay per iron tonne with PGE's ?
= with copper,cobalt and nickel ?
See how the numbers favor " fronting " an iron concentrate ?
Let's now just use the iron credit ( - ) capital expenditure of approximately C$2.3bn
$4,167,500,000 usd
- $2,300,000,000 usd
= $1,867,500,000 bil usd ( just iron profit )
Hence...
all how you model the mine
what mineral credit is made as - lead credit
Which is why a second eng firm opinion would be of the order.
Or...have the current eng firm make some revisions.
Cheers....