FML 6.25% 17.0¢ focus minerals ltd

Not out to knock down - I'd like to know if there is any...

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    Not out to knock down - I'd like to know if there is any substance to the words, as there is the potential to affect my investment. My head says no, but I'm not a closed book.

    PGO released their PFS today and are looking at a minimum 40kt per month on a 3 week on 3 week off rotation. Cross checking against our PFS this would see the mill at capacity in the first year, and likely continuing at capacity if Brilliant was brought on from 2019.

    It appears the Greenfields will be the primary ore source in the first year and a bit, so as to get cashflow to offset the Bonnie Vale underground cost. Logically you would bring in Brilliant once Greenfields is depleting so a to have two ore sources.

    Page 5 of the PFS, along with the PGO PFS indicates that Brilliant would see 500ktpa. On current resources that's around 2.5 g/t, which indicates around 35k ounces per annum on 90% recovery. Ultimately that indicates that we are looking at 65-70k ounces per annum, plus toll treating revenue.

    All educated guesswork, clearly contingent on some pretty big assumptions.
 
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