SUMMERIZED - 2015 = 90% Gabbs + Sulphides only 10% peridotite )
2015 - PEA with 329 million tonnage should stick
2015 vs 2023 Spot prices ( present spot better ) Palladium - $750/oz way lower than 2024
Platinum - $1,032 close to 2024 prices
Nickel -
$11,831/t way lower than 2024
2015 bulk con = higher recoveries = because of sulphide 2015 bulk con = more payable metals = because bulk con + sulphide recovry After-Tax NPV7.5% of CAD$1.2 Billion and IRR of 24.6%
https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2015/Wellgreen-Platinum-Announces-Positive-Preliminary-Economic-Assessment-Update-on-its-Wellgreen-PGM-Nickel-Project/default.aspx
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Phase 2 MET
Only 1/2 the hole was used
= high odds ( silicates / upper )
March 1, 2017 The Massive Sulphides and Gabbro constituting a smaller volume of material than the Clinopyroxenite may be tested during any subsequent metallurgical testing. - Maybe tested.
- All the more support pointing to upper hole silicate intercept cores
sent for phase 2 MET
Sept. 7, 2017 
https://www.nickelcreekplatinum.com/investors/news-releases/press-release-details/2017/Wellgreen-Platinum-Provides-2017-Drill-Program-Update/default.aspx
As one can see, phase 2 met drill cores are more central
- upper silcates sent
- lower kept by junior
2023 rolls round - PFS
metals payable is eq to approx 25% recovery
how can this be when 2015 recoveries in bulk con were very high %
Plausable Answer ? Eng firm applied a 25% metal recovery as if,
entire resource was all silicate = 437 M tonne resource.
yet 329 million tonnes = 90% sulphides + Gabbs
Eng firm should've kept 329 million tonnes separate 2015 sulphide resource ( was already met tested )
Sulphide ore are at deeper depth - lower hole
Phase 2
drill core samples for met
upper holes most likely sent My hunch ? upper silicates represent 70%+ of ore body
suppose silicate tonnage were 1/2 or 50% of sulphides
329 million t ( 2015 ) lower sulphides
329 million t upper silicates
x 25% metals recovery ( 2023 )
= 82,250,000 t upper silicates( or 25% recoverable ) + 329,000,000 t
lower sulphides =
411,250,000 t ( close to 2023 pfs tonnage ) Could a computer program apllied 25% silicate recovery to the
329 M tonne sulphides of 2015 ?
What if ? ( second theory ) 2015 - 329 M tonne sulphides
were kept separate
And what if...
437 million t 2023 pfs was
all the upper silicates ?
x 25% recovery
= 25% metal payables
Answer might be found by
analyzing total tonnage - 1.5+ billion tonnesi
What i am confident with, 329 M tonne 90% sulphide - $1.2 billion NVP if pgm's pulled from magnetite - $5+ billion more Other metal credits + exotics If i had to redo pfs ? I'd keep 2015 ( 90% sulphidev+ 10% peri ) tonnage separate
I'd tack on 74 additional holes ( lower sulphides ) to 329 M tonnes
I'd measure all silicate tonnage and aplly 25% recovery to just silicates
= then combine both for a total
Then,
ind a diff extraction for the silicates similar to fpx's 90% recovery