THOUGHTSJust reviewed key press releases from 2015 - 2017
Did you know former 2015 junior estimated they could extract upto 90%
of PGM's from magnetite - vs - new junior on
Sept. 13, 2016 said, they'd liberate the PGM's from magnetite.
CHART
https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2016/Wellgreen-Platinum-Provides-Wellgreen-Project-and-Corporate-Update/default.aspx
What's the value of 7,000,000 eq oz's x 90% ?
6,300,000 eq oz's x $950 oz
= $
5,985,000,000 billion usd No exotics
The effort to ( continue, make better ) 2015 pea bulk concentrate
to... re-evaluating ore geology to can't process certain ores
to... 86% reduction of resource / cut offs = increasing grade
The Inferred class of mineralization declined in tonnage by approximately 86%,
but increased the grade of nickel by 20% and decreased the grade of copper
by approximately 14% https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2017/Wellgreen-Platinum-Announces-Updated-Resource-Estimate/default.aspx
2015 crew applied 0.15% Ni eq
Thus... arriving at an estimated ( additional ) 846 million t inferred.
It feels as if,
phase 2 MET ----> redid phase 1 ( recharactorizing ore geology
when it was suppose to compound or better phase 1 bulk
As for, separating cu + ni -----> did it help ?
They postponed PEA and with additional 74 drill holes increased
resource by only 10% only to mention resource declined by 10% ?
an additional 74 drill holes were completed during four drill programs from 2013 through to 2016. These drill holes and assay data were incorporated into the new geologic model and 2017 Resource Estimate. The result of the additional drilling contributed to an approximate 10% increase in the Measured and Indicated classes of mineralization. By comparison to the 2014 resource model, if the metal prices, costs and recoveries used in the 2014 resource estimate were applied to the 2017 model, there would have been an approximate 25% increase in the Measured and Indicated Resources. However, lower US dollar metal prices, additional metallurgical testwork, which revealed lower recoveries (see news release dated March 1, 2017), and operating cost updates have partially offset some of the gains in tonnage, so the net increase in the tonnage of Measured and Indicated mineralization from 2014 to 2017 is approximately 10% at similar grades. https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2017/Wellgreen-Platinum-Announces-Updated-Resource-Estimate/default.aspx
Should operating costs affect resource size ?
Should only affect cost to mine and process - not alter tonnage.
Right ?
Press
Sept. 25, 2018 The nickel recovery correlation to sulphur results in a reduction in the average nickel recoveries to levels below those observed in our Phase II Metallurgical Program. By applying the nickel sulphur recovery formula discussed above, the Company estimates that the Project's 2017 stated mineral resource tonnage would be reduced by approximately 10% using a nickel price of US$8.25 per pound (see table below). Given this new understanding, combined with current and projected long term commodity prices and financial market conditions, the Company believes it wouldn't be prudent to complete a PEA until the emergence of improved financial market conditions Should a junior even mention,
10% reduction in resource size basing it on, metal prices ?
I can't think of any other junior altering a resource size basing it on, metal prices.
Resource size remains same.
Now... if one decides to mine the resource,
and only mines higher grade zones, would this erase the overall resource size ?
No... it's still there.
Were phase 2 drill cores a true representation of, entire wellgreen ?
Or... moreso Central zone ?
If select holes were chosen in phase 2 ( half the amount that were drilled )
and only upper half of intercept sent to MET studies
would this be moreso ----> peridotite, clinopyroxine, dunite ?
could phase 2 MET program handle ( solid solution, microcrytaline metal in silicates ?)
what about using courser grind ?
Practical Entitlement recognizes that part of the feed metal units exist in a form that is either mineralogically unsuitable for recovery (e.g. nickel as low-concentration solid solution in magnetite or silicates) or in a form that is physically unsuitable for recovery (disseminated microcrystalline inclusions of metal sulphides within silicates) https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2017/Wellgreen-Platinum-Announces-Results-of-Metallurgical-Testwork/default.aspx
What i find interesting ?
Phase 1 - 2015 crew used majority sulphide, gabbs,
10% peridotite over LOM
This suggests - 329 million tonnes only used these specific ores
= Lower half of resource
Would this mean phase 2 dealt with ------> upper peridotite, dunite, solid solution ?
If at all accurate,
the 329 million tonnes recovery ( 2015 crew ) should stand with its % recoveries
and
phase 2 upper tonnage ( silicates ) with 25% metals payable
tacked on to -----> 2015 PEA recoveries
329 million tonnes ( 1.2 billion NVP )
gabb, sulphide, 10% peridotite tonnage
WHAT"S THE TOTAL UPPER SILICATE TONNAGE PHASE 2 ?
Do these ores comprise 70%+ of wellgreen tonnage ?
For example sake ( i'll reduce silicate tonnage to just 50%
This far east drill intercept shows 50/50 ( dun/peri vs gabb/sulph/clino )
https://live.staticflickr.com/65535/53493052199_3003f59708_c.jpg 329 million tonnes - 2015 lower sulphides 329 million tonnes - 2023 upper silicates x 25% silicate metalts recovery ( 1/4 of tonnage ) 329 million tonnes - 2015 lower sulphides +
82,250, 000 silicates ( 25% metals payable ) =
411,250,000 ( upper + lower combined )
ISSUE ?
Did the 2023 PFS ( apply 25% silicate recovery ) to entire 437 million t ? Instead of separating 2015 lower ores from upper silicate recoveries ?
Tis... interesting.
2015 Spot prices ?
Palladium - $750/oz way lower than 2024
Platinum - $1,032 close to 2024 prices
Nickel -
$11,831 way lower than 2024 SUM ? 2015 pea sulphides - $1.2 billion NVP
2017 forward
silicate tonnage 25% recovery Tack on promised ( exotics + pull pgm's from magnetite $5+ billion )
Iron, Magnesium, Chromium, Titanium
Sulphide Extraction - all good
Silicate Extraction - they told junior can't handle silicates
Engineering Firm - should review / 2023 pfs( separate 2015 sulphide from 2017 silicates )
Do not apply silicate recovery to entire 437 million t
Reinstate 0.15% Ni eq cutoff = 846 million t
Sulphide mountain looks pretty interesting.
Factor the ( above ) ( SUM ) into economics 
Cheers...
Not investment advice.
Simply trying to figure out how 2023 pfs veered from 2015 pea.
Not impressed with the world conditions. ( war drums )
Spot metal price anomalies.
NCP's stock value - ask holding down stock.
Junior's too silent.
Election year... shh already starting.
Hmmm.
If i've errored,
chime in with your own post correction.
Thanks.