TNO (ASX) Comparison with peers

Originally posted by dunny29: ↑

1) I hope so! Obviously yet to be proven but DSO appears more likely here than most currently. For DSO it may be possible to utilise shorter term contracts that are closer to the spot price, especially if the grades are proved to be higher than what they currently process.

2) I think the mining right covers this and a key piece of red tape that may impact the Gabba plays a little, possibly one more than the other but lets not get sidetracked here.

3) Definitely, will be interesting to see if the pipes prove the samples taken. Enough was taken to do initial met work, so I assume this was way more comprehensive than the average rock chip samples (AKA take the pretty coloured rocks build hype given the high chance of positive assays). IMO and not based off much tbh I think local processors are a more likely option than DSO'ing to China, hopefully the DSO market study can show some positive light on this soon. If both are viable and willing then even better.

I assume it would make sense for processors to process the higher grade product we may have, especially when the price is going up near vertical which shows all current processing is at capacity. Hopefully higher grades = more V2O5 product = desire and premium for TNO ore.

4) It looks like the pipes and general ore body are relatively flat and near surface which is ideal for cheap mining. I think it would make sense to fund/construct the crush/grinding and magnetic separation as it would remove deleterious elements from the ore that secondary processors don't want. This would also reduce the amount of ore to be transported/required to be processed, likely attracting a higher price also.

It would depend on the capex, opex and sale price variables which is obviously too early to get a definitive read on. The pipe magnetic separation testing didn't get a large boost in V2O5 grade, perhaps enough wasn't taken to optimise the process though which I feel is likely. I imagine the crushing/grinding and magnetic part are 2 obvious points that would require much more ore tested to optimise the process.

Assuming this is possible, its a matter of finding someone to pay for it, finding a sale price and working out the cost to get it out of the ground and preferred initial processing. I'll stress a few things need to be proved before this becomes reality, but currently the early signs are there and may happen much sooner than many think (12-18 months).

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dso to local producer seems certain for tno. I don't want to mention about this part in details because I m holding quit a lot of tmt currently. Do more research on vanadium producer and especially south Africa producer, investor will know how good is tno. A couple of South Africa processing plant need to be upgraded to vanadium only.

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