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Timnea

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07/01/17

20:45

Post #: 21743612
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Originally posted by Barry81 ↑

Here is a link to the PFs for ammaroo from 2015

http://www.rumjungleresources.com.au/sites/default/files/gallery/Ammaroo/150909_Updated Ammaroo Prefeasibility_Study.pdf

First thing is the current sales price for rock concentrate is currently about $90 pt not the $135 mentioned in the report. This can be found in the most recent Avenira valuation from Patersons.

My quess is that opex would be $70-$90 usd pt tonne. Most of the morrocan Rock concentrate is produced for sub $50 pt.

Capex is $770m for 2m tonne pa facitility. This is considerably higher than other pre developed operations eg minbos. In current market this would be very hard to fund.

Lastly the overall grade is relatively low at 15% p2o5. Most overseas dso are 25% plus.

The other 2 options aren't really that economic as the capital cost is too large.

Again I'm not sure why verdant is doing a bfs as it will virtually be impossible to find investors when there are other better undeveloped phosphate projects that will come online first to meet demand.

Unless CT has some new way of producing phos acid or dap/map for lower opex/capex which could make ammaroo economic.

To that end he is always sniffing around fertiliser events and I think he will present at cru's fertilisers 17.

That's why I think sol pats must be up to something.....

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Hi Barry. What do you think they might be up to? Do you have a few examples/possibilities? I take them at face value, that is they're trying to start a phosphate mine....no assumptions (Occum's razor). Being cashed up with some smart people behind them I reckon they have great chance. And I view the depressed price of phosphate atm as a major positive, if it was sky high I wouldn't be interested.

VRM Price at posting: 3.5¢ Sentiment: Buy Disclosure: Held
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Moving Up!, page-15

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