An ex metallurgist mate of mine (who deciphers all of the exploration and drilling reports for me, and obviously still has his fingers on the pulse) had dealings with Simulus a number of years ago and tells me they are top operators, who "wouldn't be wasting their resources on a s**t project", so they must have a high level of confidence they can extract value from Itapitanga for themselves and CTM
He said..
* a free carry to a decision to mine has got to be worth ~$15m with the drilling, resource/reserve estimation, processing, pilot plant, engineering studies etc
* Simulus recently worked on BFS (processing plant costings) for Australian Mines Cobalt-Nickel-Scandium "Sconi" project, and will be "all over" the requirements for the Itapitanga project
* They have the biggest "sulphate extraction demo plant in Australia where all the pilot plant testing can be done to produce battery grade nickel and cobalt.
* reckons it's a really "smart" JV!!
Good luck to all holders!
An ex metallurgist mate of mine (who deciphers all of the...
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