Can you point me to a company, any one you like, who has gone...

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binwood

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27/11/18

16:22

Post #: 36657197
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Originally posted by sirhcdobo ↑

Originally posted by Giant1
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!
Im a bit sceptical of it being 15mill worth of work but i still think it is an ok deal.

the vast majority of the drilling has already been done, just need to fill it out and get into the creek areas to get to Jorc (couldnt be more than a couple of hundred thousand worth of drilling to get to that stage). doubt there would be a pilot plant, they have already shown good recoveries from the ore so they would know the process needed. so really it is just minor drilling and Jorc, feasibility study and then Engineering. My guess would be less than 5 mill to get to that stage where financing and construction start if CTM were going alone. Im sure out new partners would be able to do it for cheaper than that still.

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Can you point me to a company, any one you like, who has gone from initial drilling to DFS completed and finance found for $5m or less??

If you can and they did it properly I will be stoked, because I will be impressed with that management team

CTM Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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