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EmmGru Veteran	25-May-2017 13:11        EmmGru About Contact  Quote this Post!
x 0   x 0  Alert Admin	ya, maybe watch first. If contra entry 355? But wall at 36 and no catalyst until report is out. Maybe not rite now. RedEye1811      ( Date: 25-May-2017 12:54) Posted: At moment I feel it a stalemate....seems 35.5c for now is the midpoint where people wish to go...buy queue got some depth though sell queue got higher barrier....I am looking to see what happens after 1pm if sellers start to get more frantic to sell....I think may go a little lower as some try and jump ship as afternoon goes on... Steady28      ( Date: 25-May-2017 12:16) Posted: Bro, so how' s your sentiment right now?  i also wanna contra 200 lots, but not sure what price. it can go up and down. must be discipline and control.  maybe just monitor. now too steady, not much activities.
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HoperKing Senior	25-May-2017 13:09        HoperKing About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nvr heard Rowsley is into mining also. Are you sure?   huangyuanhe      ( Date: 25-May-2017 12:01) Posted: I buying Rowsley for Western Australia Mining Concession too : ) Heard some rumors there. Dyodd. Today nice volume eat up . Same story. Same trend . From 9 cts to 30 cts. 9 cts .....11 cta....15 cts....19 cts.....25 cts....30 cts : )
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soundblaster Master	25-May-2017 13:06        soundblaster About Contact  Quote this Post!
x 0   x 0  Alert Admin	Triple top?
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Seriously Member	25-May-2017 13:05        Seriously About Contact  Quote this Post!
x 0   x 0  Alert Admin	You are nice, sifu. Informative. Please help guide this group!  : ) risktaker      ( Date: 25-May-2017 11:21) Posted: not my notes leh ... copy from hotcopper ... i scared people didnt have chance to go hotcopper ma I so nice sheerluck      ( Date: 25-May-2017 11:18) Posted: You said you old man.   I think you sophisticated old man.   Can produce this kind of posting... But I believe you are BB with kakia
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Steady28 Senior	25-May-2017 12:55        Steady28 About Contact  Quote this Post! Style: Flexible   Mood: Yells: "huat ah"
x 0   x 0  Alert Admin	i dont know. if you observed enough for amal, past few rounds can swing from earth to the universe.  just that this time round, things are clearer. reports with a timeline. progress can be tracked.  im heavily vested in this at 0.25.  now not much cash, can only contra for quick gain... can be loss too. dilemma.  chanbs      ( Date: 25-May-2017 12:47) Posted: is 35.5 the turning point ?
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RedEye1811 Master	25-May-2017 12:54        RedEye1811 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	At moment I feel it a stalemate....seems 35.5c for now is the midpoint where people wish to go...buy queue got some depth though sell queue got higher barrier....I am looking to see what happens after 1pm if sellers start to get more frantic to sell....I think may go a little lower as some try and jump ship as afternoon goes on... Steady28      ( Date: 25-May-2017 12:16) Posted: Bro, so how' s your sentiment right now?  i also wanna contra 200 lots, but not sure what price. it can go up and down. must be discipline and control.  maybe just monitor. now too steady, not much activities.    RedEye1811      ( Date: 25-May-2017 09:45) Posted: Day is only young. Let us see if the early morning down is simply contraists bailing quick and later in day those looking long term take control...but if settles and consolidates around here then also cool...
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chanbs Elite	25-May-2017 12:47        chanbs About Contact  Quote this Post!
x 0   x 0  Alert Admin	is 35.5 the turning point ?
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Steady28 Senior	25-May-2017 12:16        Steady28 About Contact  Quote this Post! Style: Flexible   Mood: Yells: "huat ah"
x 0   x 0  Alert Admin	Bro, so how' s your sentiment right now?  i also wanna contra 200 lots, but not sure what price. it can go up and down. must be discipline and control.  maybe just monitor. now too steady, not much activities.    RedEye1811      ( Date: 25-May-2017 09:45) Posted: Day is only young. Let us see if the early morning down is simply contraists bailing quick and later in day those looking long term take control...but if settles and consolidates around here then also cool... amlithiumpower      ( Date: 25-May-2017 09:41) Posted: Interesting. Gap up then close gap down. Guess contralists load the shares expecting it the report news but turn out have to wait for 2 weeks. So they faster exit with a small profit rather than waiting to pay up?
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huangyuanhe Supreme	25-May-2017 12:01        huangyuanhe About Contact  Quote this Post!   Yells: "666"
x 0   x 0  Alert Admin	I buying Rowsley for Western Australia Mining Concession too : ) Heard some rumors there. Dyodd. Today nice volume eat up . Same story. Same trend . From 9 cts to 30 cts. 9 cts .....11 cta....15 cts....19 cts.....25 cts....30 cts : )
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timothylim890 Veteran	25-May-2017 11:57        timothylim890 About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Wah you guys really a bit on the older side hahaha
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risktaker Supreme	25-May-2017 11:43        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Posts are opinions. Do not take it as investment advise "
x 0   x 0  Alert Admin	lol....每 个 人 有 每 个 人 的 烦 恼 sheerluck      ( Date: 25-May-2017 11:40) Posted: 40 where got old.   Then how we see 70-year old man?   Like that is political incorrect. Used to be 四 十 而 立 .   Now  四 十 becomes mid-life crisis for most.   jialat ah this world. risktaker      ( Date: 25-May-2017 11:25) Posted: ok la to be honest i hit 40 liao... so old man liao lor
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sheerluck Supreme	25-May-2017 11:40        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	40 where got old.   Then how we see 70-year old man?   Like that is political incorrect. Used to be 四 十 而 立 .   Now  四 十 becomes mid-life crisis for most.   jialat ah this world. risktaker      ( Date: 25-May-2017 11:25) Posted: ok la to be honest i hit 40 liao... so old man liao lor
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risktaker Supreme	25-May-2017 11:39        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Posts are opinions. Do not take it as investment advise "
x 0   x 0  Alert Admin	wah 40 need wheelchair meh how come? RedEye1811      ( Date: 25-May-2017 11:37) Posted: Do not worry...when I hit 40 my wife got me a wheelchair...my nieces think I should not have access to the internet as I am too old...but even in a wheelchair still capable of somethings... risktaker      ( Date: 25-May-2017 11:25) Posted: ok la to be honest i hit 40 liao... so old man liao lor
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RedEye1811 Master	25-May-2017 11:37        RedEye1811 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Do not worry...when I hit 40 my wife got me a wheelchair...my nieces think I should not have access to the internet as I am too old...but even in a wheelchair still capable of somethings... risktaker      ( Date: 25-May-2017 11:25) Posted: ok la to be honest i hit 40 liao... so old man liao lor
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risktaker Supreme	25-May-2017 11:25        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Posts are opinions. Do not take it as investment advise "
x 0   x 0  Alert Admin	ok la to be honest i hit 40 liao... so old man liao lor
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risktaker Supreme	25-May-2017 11:21        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Posts are opinions. Do not take it as investment advise "
x 0   x 0  Alert Admin	not my notes leh ... copy from hotcopper ... i scared people didnt have chance to go hotcopper ma I so nice sheerluck      ( Date: 25-May-2017 11:18) Posted: You said you old man.   I think you sophisticated old man.   Can produce this kind of posting... But I believe you are BB with kakia. risktaker      ( Date: 25-May-2017 10:43) Posted: As my notes have allowed i have written things as said on the day. Some i have re-worded for ease of reading. Resolutions Resolution 4 removed from today' s meeting at the request of the directors, resolution 4-sort shareholder approval for an additional 10% placement capacity under listing rule 7.18. The resolution has been withdrawn, as the company believes there is no need for additional placement capacity as the resolution was inserted in the notice of the AGM, which pre-dated the $15million capital raising as announced to the ASX on the 27th  of April this year. All other resolutions passed. Presentation Slide 4 By the end of this month should have spent the A$7.5million Done over 50,000metres of drilling since we started Built up a fairly strong team now, bursting at the seams in the current office but that will change In a month and a bit we will be moving office. In the meantime we will keep adding people on, operations people and the engineering team. Question: Do you expect Burwill to take 100%? Mark: Yes. That&rsquo s the indication they have made to us. They want the whole lot, even if we get it up to 200,000 tonnes, which is what we are looking at doing, or beyond they want the whole lot. Slide 5 Primera will build us a DMS which is from their learning experience from Galaxy and other operations from Tallison. This will be the most up to date DMS circuit around. We produce a very high quality product, high concentrate we know that from the laboratories, from the metallurgist that ours is arguably the best product from DMS concentrate that will be produced in WA Slide 7 Stage 2 is the fines circuit. C in the triangle is the Concentrate produced in stage 1. 28% of our Lithium we don&rsquo t produce in stage 1, part of it goes to Fines (F in the triangle). And part of it goes to what&rsquo s called Middlings (M in the triangle) concentrate which arguably can&rsquo t be sold, they are only 1.5% Lithium, but we have interested parties anyway. Assuming we don&rsquo t sell it, fines and middlings get combined and later on we can put that through the lithium fines circuit. That lithium fines circuit will probably cost A$10-15million to build but it would have a very low operating cost per tonne of concentrate because it has already been mined so it will help drop our cost per tonne of concentrate. We actually get more Tantalum from the Lithium circuit than we get from the Tantalum plant. So we will be WA' s biggest Tantalum producer and one of the worlds biggest. It&rsquo s a high quality product because unlike some of the other mines in WA it can go to Japan because its very low in uranium. It&rsquo s a premium product. So yes stage 2 is the fines circuit and then after that the opportunity for a second DMS, which we can either use for low grade and upgrade the low grade material or we just put in another high grade one and just pull out more concentrate. Based on demand there is a very good chance we will pour money into capital and get the tonnage up. Slide 8 Hopefully within the next 2 weeks we will have the study out with the resource estimate. July Resource target, realistically we will probably get the drilling done by July but to get the resource estimate out by July is another question. Its still a target but its lagging time wise more than anything. Question: Is it a target you are confident of hitting? Mark: Confident of hitting the tonnes, its just a matter of when. We have had rigs on sterilization drilling, we have had rigs on geotech drilling and water bore drilling so its sort of slowed the whole exploration focus down a bit but the guys are moving out, the footprint of the pegmatite has tripled in the last couple of months, so its starting to get some size to it. Question: What locations are you drilling at the moment? Mark pointed them out on the plan and said this: We have one drill looking for waste dumps which is a bit tricky at the moment because the footprints are getting bigger and bigger and the engineers are desperate for some more waste dumps. Question: What do you mean by the footprint is getting bigger? Mark: The size of the pegmatite, its not shown on here but its continuous, its over a km wide south of the first 2 pits. Question: Is that from surface? Mark: It comes close to the surface, it rolls over, like a very gentle roll. There is some stuff that comes to surface as we know from the old pits. The starter pit will be about 4 years of production, so we can get that into the DMP. It will grow significantly from there, we may even move, the recent drilling has picked up a high grade zone over in the east and that may come forward in the schedule. We have been getting some decent hits of 1.6grade. Slide 9 Probably in 3 months we will know what the fines circuit looks like and we will start detailed engineering on that as well. We want that to come online hopefully 9 months later after the start of the DMS. We expect costs to be less than 50% of revenue. Slide 10 Significant resource potential upside, that will be the key, how many tonnes we can drill out over the next 12 months as we look at the long term tonnage potential. Questions Question: I am estimating back of the envelope that we will be generating about $50million revenue for the first 2 years from that contract. Mark: I am hoping more than that, I am hoping revenue is close to $200million and we should be about $100million pre sustaining capital and pre government royalties of course. So I suspect higher than $50million, but $50million is a good target. Question: What do you plan on doing with it? Mark: For the first 12 months we will pour it back into the fines circuit. There will be more exploration of course but that&rsquo s steady steady spend. And whether we do a second DMS is the 64 dollar question but based on those levels of revenue we should be starting to pay dividends fairly quickly on this project because there is no carry forward debt to pay of. Question: MCT our neighbors below South Cowan are drilling just along the boarder, is there any particular reason they are doing that? Mark: They are trying to pick up the belts, there is a very big belt that comes down. They are hoping to pick up the extension of the belt. If they pick it up we probably have another 100million tonnes between us and them (laughs) so hopefully they do find something. Question: What are your thoughts on the lithium price going forward, do you think it will hold? Mark: I think the supply is slower than some people have predicted, it comes down to how quickly demand picks up. I don&rsquo t see a big change in the lithium ore price, the feedback from some of the offtakers is that the end user is chasing quality now, so the battery market is going more towards the quality of the battery rather than the price of the battery, as the prices have come down there going for quality. The spodumine we will produce creates a very high quality Lithium carbonate. Most of the brines can&rsquo t meet the quality at the moment so I think there is going to be a strong demand for spodumine going forward, for hydroxide and lithium carbonate. Eventually PLS will come on line and AJM and that will be a big slug of production but they are still not there yet, so at the moment there is a mad rush for product, I don&rsquo t see it changing a lot in price, it may move up or down $100 a tonne. I don&rsquo t see any reason for it to drop right back or shoot of either. I think around the $900 will be the average price for some time. Question: Are there any types of impurities in your concentrate that could knock the price down a bit? Mark: No it&rsquo s a very high quality concentrate, we get a high grade concentrate and the iron content is low. If the iron content goes above 1% it&rsquo s a problem and if your grade drops below 5.5% it&rsquo s a big problem, so you have to keep your grade above 5.5% and your iron below 1%. We are well within those brackets. Question: Any price catalysts you can see other than the resource estimate coming up? Mark: Yes, beginning construction would be one. The economics in the feasibility study will be one as well when it comes out shortly. But the resource is important as well. People seeing things actually physically happening on the ground will make it more real.
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sheerluck Supreme	25-May-2017 11:18        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	You said you old man.   I think you sophisticated old man.   Can produce this kind of posting... But I believe you are BB with kakia. risktaker      ( Date: 25-May-2017 10:43) Posted: As my notes have allowed i have written things as said on the day. Some i have re-worded for ease of reading. Resolutions Resolution 4 removed from today' s meeting at the request of the directors, resolution 4-sort shareholder approval for an additional 10% placement capacity under listing rule 7.18. The resolution has been withdrawn, as the company believes there is no need for additional placement capacity as the resolution was inserted in the notice of the AGM, which pre-dated the $15million capital raising as announced to the ASX on the 27th  of April this year. All other resolutions passed. Presentation Slide 4 By the end of this month should have spent the A$7.5million Done over 50,000metres of drilling since we started Built up a fairly strong team now, bursting at the seams in the current office but that will change In a month and a bit we will be moving office. In the meantime we will keep adding people on, operations people and the engineering team. Question: Do you expect Burwill to take 100%? Mark: Yes. That&rsquo s the indication they have made to us. They want the whole lot, even if we get it up to 200,000 tonnes, which is what we are looking at doing, or beyond they want the whole lot. Slide 5 Primera will build us a DMS which is from their learning experience from Galaxy and other operations from Tallison. This will be the most up to date DMS circuit around. We produce a very high quality product, high concentrate we know that from the laboratories, from the metallurgist that ours is arguably the best product from DMS concentrate that will be produced in WA Slide 7 Stage 2 is the fines circuit. C in the triangle is the Concentrate produced in stage 1. 28% of our Lithium we don&rsquo t produce in stage 1, part of it goes to Fines (F in the triangle). And part of it goes to what&rsquo s called Middlings (M in the triangle) concentrate which arguably can&rsquo t be sold, they are only 1.5% Lithium, but we have interested parties anyway. Assuming we don&rsquo t sell it, fines and middlings get combined and later on we can put that through the lithium fines circuit. That lithium fines circuit will probably cost A$10-15million to build but it would have a very low operating cost per tonne of concentrate because it has already been mined so it will help drop our cost per tonne of concentrate. We actually get more Tantalum from the Lithium circuit than we get from the Tantalum plant. So we will be WA' s biggest Tantalum producer and one of the worlds biggest. It&rsquo s a high quality product because unlike some of the other mines in WA it can go to Japan because its very low in uranium. It&rsquo s a premium product. So yes stage 2 is the fines circuit and then after that the opportunity for a second DMS, which we can either use for low grade and upgrade the low grade material or we just put in another high grade one and just pull out more concentrate. Based on demand there is a very good chance we will pour money into capital and get the tonnage up. Slide 8 Hopefully within the next 2 weeks we will have the study out with the resource estimate. July Resource target, realistically we will probably get the drilling done by July but to get the resource estimate out by July is another question. Its still a target but its lagging time wise more than anything. Question: Is it a target you are confident of hitting? Mark: Confident of hitting the tonnes, its just a matter of when. We have had rigs on sterilization drilling, we have had rigs on geotech drilling and water bore drilling so its sort of slowed the whole exploration focus down a bit but the guys are moving out, the footprint of the pegmatite has tripled in the last couple of months, so its starting to get some size to it. Question: What locations are you drilling at the moment? Mark pointed them out on the plan and said this: We have one drill looking for waste dumps which is a bit tricky at the moment because the footprints are getting bigger and bigger and the engineers are desperate for some more waste dumps. Question: What do you mean by the footprint is getting bigger? Mark: The size of the pegmatite, its not shown on here but its continuous, its over a km wide south of the first 2 pits. Question: Is that from surface? Mark: It comes close to the surface, it rolls over, like a very gentle roll. There is some stuff that comes to surface as we know from the old pits. The starter pit will be about 4 years of production, so we can get that into the DMP. It will grow significantly from there, we may even move, the recent drilling has picked up a high grade zone over in the east and that may come forward in the schedule. We have been getting some decent hits of 1.6grade. Slide 9 Probably in 3 months we will know what the fines circuit looks like and we will start detailed engineering on that as well. We want that to come online hopefully 9 months later after the start of the DMS. We expect costs to be less than 50% of revenue. Slide 10 Significant resource potential upside, that will be the key, how many tonnes we can drill out over the next 12 months as we look at the long term tonnage potential. Questions Question: I am estimating back of the envelope that we will be generating about $50million revenue for the first 2 years from that contract. Mark: I am hoping more than that, I am hoping revenue is close to $200million and we should be about $100million pre sustaining capital and pre government royalties of course. So I suspect higher than $50million, but $50million is a good target. Question: What do you plan on doing with it? Mark: For the first 12 months we will pour it back into the fines circuit. There will be more exploration of course but that&rsquo s steady steady spend. And whether we do a second DMS is the 64 dollar question but based on those levels of revenue we should be starting to pay dividends fairly quickly on this project because there is no carry forward debt to pay of. Question: MCT our neighbors below South Cowan are drilling just along the boarder, is there any particular reason they are doing that? Mark: They are trying to pick up the belts, there is a very big belt that comes down. They are hoping to pick up the extension of the belt. If they pick it up we probably have another 100million tonnes between us and them (laughs) so hopefully they do find something. Question: What are your thoughts on the lithium price going forward, do you think it will hold? Mark: I think the supply is slower than some people have predicted, it comes down to how quickly demand picks up. I don&rsquo t see a big change in the lithium ore price, the feedback from some of the offtakers is that the end user is chasing quality now, so the battery market is going more towards the quality of the battery rather than the price of the battery, as the prices have come down there going for quality. The spodumine we will produce creates a very high quality Lithium carbonate. Most of the brines can&rsquo t meet the quality at the moment so I think there is going to be a strong demand for spodumine going forward, for hydroxide and lithium carbonate. Eventually PLS will come on line and AJM and that will be a big slug of production but they are still not there yet, so at the moment there is a mad rush for product, I don&rsquo t see it changing a lot in price, it may move up or down $100 a tonne. I don&rsquo t see any reason for it to drop right back or shoot of either. I think around the $900 will be the average price for some time. Question: Are there any types of impurities in your concentrate that could knock the price down a bit? Mark: No it&rsquo s a very high quality concentrate, we get a high grade concentrate and the iron content is low. If the iron content goes above 1% it&rsquo s a problem and if your grade drops below 5.5% it&rsquo s a big problem, so you have to keep your grade above 5.5% and your iron below 1%. We are well within those brackets. Question: Any price catalysts you can see other than the resource estimate coming up? Mark: Yes, beginning construction would be one. The economics in the feasibility study will be one as well when it comes out shortly. But the resource is important as well. People seeing things actually physically happening on the ground will make it more real.
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timothylim890 Veteran	25-May-2017 10:59        timothylim890 About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	The AGM Q&A is good stuff thanks for sharing guys
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risktaker Supreme	25-May-2017 10:43        risktaker About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Posts are opinions. Do not take it as investment advise "
x 0   x 0  Alert Admin	As my notes have allowed i have written things as said on the day. Some i have re-worded for ease of reading. Resolutions Resolution 4 removed from today' s meeting at the request of the directors, resolution 4-sort shareholder approval for an additional 10% placement capacity under listing rule 7.18. The resolution has been withdrawn, as the company believes there is no need for additional placement capacity as the resolution was inserted in the notice of the AGM, which pre-dated the $15million capital raising as announced to the ASX on the 27th  of April this year. All other resolutions passed. Presentation Slide 4 By the end of this month should have spent the A$7.5million Done over 50,000metres of drilling since we started Built up a fairly strong team now, bursting at the seams in the current office but that will change In a month and a bit we will be moving office. In the meantime we will keep adding people on, operations people and the engineering team. Question: Do you expect Burwill to take 100%? Mark: Yes. That&rsquo s the indication they have made to us. They want the whole lot, even if we get it up to 200,000 tonnes, which is what we are looking at doing, or beyond they want the whole lot. Slide 5 Primera will build us a DMS which is from their learning experience from Galaxy and other operations from Tallison. This will be the most up to date DMS circuit around. We produce a very high quality product, high concentrate we know that from the laboratories, from the metallurgist that ours is arguably the best product from DMS concentrate that will be produced in WA Slide 7 Stage 2 is the fines circuit. C in the triangle is the Concentrate produced in stage 1. 28% of our Lithium we don&rsquo t produce in stage 1, part of it goes to Fines (F in the triangle). And part of it goes to what&rsquo s called Middlings (M in the triangle) concentrate which arguably can&rsquo t be sold, they are only 1.5% Lithium, but we have interested parties anyway. Assuming we don&rsquo t sell it, fines and middlings get combined and later on we can put that through the lithium fines circuit. That lithium fines circuit will probably cost A$10-15million to build but it would have a very low operating cost per tonne of concentrate because it has already been mined so it will help drop our cost per tonne of concentrate. We actually get more Tantalum from the Lithium circuit than we get from the Tantalum plant. So we will be WA' s biggest Tantalum producer and one of the worlds biggest. It&rsquo s a high quality product because unlike some of the other mines in WA it can go to Japan because its very low in uranium. It&rsquo s a premium product. So yes stage 2 is the fines circuit and then after that the opportunity for a second DMS, which we can either use for low grade and upgrade the low grade material or we just put in another high grade one and just pull out more concentrate. Based on demand there is a very good chance we will pour money into capital and get the tonnage up. Slide 8 Hopefully within the next 2 weeks we will have the study out with the resource estimate. July Resource target, realistically we will probably get the drilling done by July but to get the resource estimate out by July is another question. Its still a target but its lagging time wise more than anything. Question: Is it a target you are confident of hitting? Mark: Confident of hitting the tonnes, its just a matter of when. We have had rigs on sterilization drilling, we have had rigs on geotech drilling and water bore drilling so its sort of slowed the whole exploration focus down a bit but the guys are moving out, the footprint of the pegmatite has tripled in the last couple of months, so its starting to get some size to it. Question: What locations are you drilling at the moment? Mark pointed them out on the plan and said this: We have one drill looking for waste dumps which is a bit tricky at the moment because the footprints are getting bigger and bigger and the engineers are desperate for some more waste dumps. Question: What do you mean by the footprint is getting bigger? Mark: The size of the pegmatite, its not shown on here but its continuous, its over a km wide south of the first 2 pits. Question: Is that from surface? Mark: It comes close to the surface, it rolls over, like a very gentle roll. There is some stuff that comes to surface as we know from the old pits. The starter pit will be about 4 years of production, so we can get that into the DMP. It will grow significantly from there, we may even move, the recent drilling has picked up a high grade zone over in the east and that may come forward in the schedule. We have been getting some decent hits of 1.6grade. Slide 9 Probably in 3 months we will know what the fines circuit looks like and we will start detailed engineering on that as well. We want that to come online hopefully 9 months later after the start of the DMS. We expect costs to be less than 50% of revenue. Slide 10 Significant resource potential upside, that will be the key, how many tonnes we can drill out over the next 12 months as we look at the long term tonnage potential. Questions Question: I am estimating back of the envelope that we will be generating about $50million revenue for the first 2 years from that contract. Mark: I am hoping more than that, I am hoping revenue is close to $200million and we should be about $100million pre sustaining capital and pre government royalties of course. So I suspect higher than $50million, but $50million is a good target. Question: What do you plan on doing with it? Mark: For the first 12 months we will pour it back into the fines circuit. There will be more exploration of course but that&rsquo s steady steady spend. And whether we do a second DMS is the 64 dollar question but based on those levels of revenue we should be starting to pay dividends fairly quickly on this project because there is no carry forward debt to pay of. Question: MCT our neighbors below South Cowan are drilling just along the boarder, is there any particular reason they are doing that? Mark: They are trying to pick up the belts, there is a very big belt that comes down. They are hoping to pick up the extension of the belt. If they pick it up we probably have another 100million tonnes between us and them (laughs) so hopefully they do find something. Question: What are your thoughts on the lithium price going forward, do you think it will hold? Mark: I think the supply is slower than some people have predicted, it comes down to how quickly demand picks up. I don&rsquo t see a big change in the lithium ore price, the feedback from some of the offtakers is that the end user is chasing quality now, so the battery market is going more towards the quality of the battery rather than the price of the battery, as the prices have come down there going for quality. The spodumine we will produce creates a very high quality Lithium carbonate. Most of the brines can&rsquo t meet the quality at the moment so I think there is going to be a strong demand for spodumine going forward, for hydroxide and lithium carbonate. Eventually PLS will come on line and AJM and that will be a big slug of production but they are still not there yet, so at the moment there is a mad rush for product, I don&rsquo t see it changing a lot in price, it may move up or down $100 a tonne. I don&rsquo t see any reason for it to drop right back or shoot of either. I think around the $900 will be the average price for some time. Question: Are there any types of impurities in your concentrate that could knock the price down a bit? Mark: No it&rsquo s a very high quality concentrate, we get a high grade concentrate and the iron content is low. If the iron content goes above 1% it&rsquo s a problem and if your grade drops below 5.5% it&rsquo s a big problem, so you have to keep your grade above 5.5% and your iron below 1%. We are well within those brackets. Question: Any price catalysts you can see other than the resource estimate coming up? Mark: Yes, beginning construction would be one. The economics in the feasibility study will be one as well when it comes out shortly. But the resource is important as well. People seeing things actually physically happening on the ground will make it more real.
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furnaces Veteran	25-May-2017 10:33        furnaces About Contact  Quote this Post!
x 0   x 0  Alert Admin	I like this. Question: MCT our neighbors below South Cowan are drilling just along the boarder, is there any particular reason they are doing that? Mark: They are trying to pick up the belts, there is a very big belt that comes down. They are hoping to pick up the extension of the belt. If they pick it up we probably have another 100million tonnes between us and them (laughs) so hopefully they do find something. EmmGru      ( Date: 25-May-2017 10:23) Posted: https://hotcopper.com.au/threads/ann-annual-general-meeting-presentation.3442515/page-23?post_id=24906135#.WSY_oWh97IU A really great summary of the AGM on HC. Have Q& A with Mark
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