Ann: Canyon commences drilling at Minim Martap, page-103

Paul

US$20 to mine, blend and stockpile at rail head (cf Alufer, Guinea), $20 rail to port, $20 sea freight to China = US$60 per dry tonne.

Alufer's FOB cost is US$25 including trans-shipment. It's a very simple operation. I allowed $7/t for trans-shipment and added a bit because Minim bauxite is further from the rail head, particularly the higher grade stuff.

I first estimated $25 / wet t for rail. Kalenn's response was "I've done my own snooping and come up with better figures. (Though not dramatically so). So I'll bung in $20 per dry tonne and that should cover the drama.

$20  / dry t sea freight I estimated up-post using the last year's data from the CBIX site.

Currently the high grade resource (Agnes, Beatrice, Raymonde) at Minim is worth about $66 per tonne on the CBIX site, accounting for available alumina, reactive silica and AL2O3 contribution from kaolinite.

Metro Mining are mining for about US$20 / dry tonne FOB so you could use that number.

Now figure out what the capex might be. US$250M says Senor Kumova. I've got no idea but that's about what it cost Alufer on the coast, not 900km inland. They had to build a barge loading facility but CAY will have to build a stockpiling and train loading facility.

CAY have to figure out how to move the high grade 30-50km to the rail head - operating cost or capital? If it's to be trucked, I'd add another $3-4 per dry tonne to the op cost. If it's to be conveyed I'd add 50% the capex. It's it's to be railed I'd double the capex.

High grading will probably work.

Beneficiation may work but none of us have a clue at the moment.