FINAL THOUGHTS Greg Johnson would be my " 1st pick " - overseeing nickel creek / shaw - wellgreen
Along with... John Sagman, P.En
Just realign the two to focus on -
high grade lenses, underground mining, with the following format below
Prophecy 2012 Greg Johnson
Mineralized samples from part of Drill Hole WS11-188 were also analyzed for rare
PGM''s rhodium, osmium, iridium and ruthenium. The results of these tests support the historic findings that the Wellgreen deposit contains rare PGM''s along with platinum and palladium.
Wellgreen has several thick lenses ( mineralized ) 2/g PGM / Ni Eq
This gram figure does not include exotics
80% of the nickel is in the sulphides
PGM's are in the sulphides / sediment rock footwall
exotics most likely follow PG ( geology )
Turning Points ?
Different assaying / partial acid digestion
Not including exotics
Underground to Open Pit
Open Pit concentrates pays little
No iron credit
Solution ?
Hudson had the correct model
Revert back to underground mining
Scrap open pit
There's already an underground mine with over 4km tunnels
Upto 40% of pgm's are attached to magnetites
Cobalt would most likely stick with the plats unless it's cobalt bloom
Former met tests = far higher recoveries
just implement a 2nd phase electrolysis
Would crushers, concentrators, furnace to demagnetize, electrolysis cell banks
cost $2.3 billion ?
No.
Concentrates = No money in it
3rd parties profit more
Not shareholder friendly
VERSUS
High grading underground ( profitable )
600,000 tonnes a year ( maximize profit payable metals )
50,000 tonnes month
1,666 tonnes day
Wellgreen lenses are thick
Near goof proof
MUST READ
https://finance.yahoo.com/news/prophecy-platinum-announces-drill-results-141612906.html
What type of assaying back in - 2012 ?
Assayed samples are transported in sealed and secured bags for preparation at ALS Chemex Prep Lab located in Whitehorse, Yukon. Pulverized (pulp) samples are shipped for analysis to ALS Chemex Assay Laboratory in Vancouver, B.C. Platinum, palladium and gold were determined by ICP emission spectrometry. Copper, nickel and cobalt were determined by ICP emission spectrometry. Copper, nickel and cobalt over limits were followed by Four Acid digestion and ICP atomic emission spectroscopy. ALS Chemex is an ISO/IEC 17025:2005 accredited laboratory and registered under ISO 9001: 2000. ALS Chemex is independent from the Company.
Run 3 - 4 - 5 payables - 1,666/t day
x 2/g ( pl, pt, au, co, ni ) electrolysis - Max PME value -
34/oz PME or more... depending on lense x $1000 avg = $34,000
Nickel Electrolysis - .26% = 5.72 lbs/t x 1,666/t = 9,529 x $9/lb = $85,761
x ( + 4 exotics ) electrolysis ( just rhodium ) 1,666 g = 53 oz x $4000 = $212,000
x copper con( high+% ) save on shipping - pull copper last - less waste ores
x 10% iron con ( 90+% ) save on shipping - $250/t 63% = $41,500
x potential Mg - magnesium oxide - 233/t x $425/t - $99,025
Without accounting for copper
$472,286/day
x 350 days
$165 million - yr - gross
Pull magnetite pgm's nickel, cobalt
Apply furnace x 2 = assist in demag + remagnetising
Iron credit is separated
float copper out
pge, ni, co, au + 4 exotics = electrolysis banks
So.... which key mineral stands out most ?
Which mineral over the years has been a controversy ?
Between diff lab assaying
Partial acid digestions
To... broken assay links - 800 chip samples - each chip containing
values of 6 plat suites and 178 chips from the 800 containded
1/g rhodium. lol
This project should have never been modelled open pit.
Significant metal values is lost in the concentrates
Underground targeting high grade sulphides enriched in 6 plat suites
is the way to go.
Smaller mine operation
= more profitable + less start up cost + easier to manage
= underground mine already established
Throw in co2 seq only drags project
versus - green river energy.
Prophecy Link above...
John Sagman, P.Eng., Senior Vice President and Chief Operating Officer, stated,
"The 2012 Wellgreen PEA...
The information obtained will be the basis for a number of studies that consider a range of operating scenarios with different throughput and production rates that will maximize the project''s overall economic performance. Of particular focus will be a review of potential staged construction approaches that may allow for a smaller initial operation with lower up front capital costs through mining higher grade material with later expansion of the project out of operating cashflow over time.
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MY DISLIKES
Open pit modelling
2023 pfs capex
Lab assaying methods ( former reports - partial digestions type of acids, etc )
Exotic plat exclusions
green energy avoidence, not thought of.
co2 tinkering - wastes valuble time - just use green river turbine / hydrogen
cu, ni concentrate focal - resulting in - considerable metal payable loss
= project sits longer - unnessisary shares racked up
= easy to fix... but will they ?
Question -
Since Strategic Metals once owned wellgreen
Do thry still hold their shares ?