As I read the announcement, the evaporators/crystallisers were...

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dyeman

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31/10/18

14:57

Post #: 36334491
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Originally posted by minerva ↑

Originally posted by dyeman
Well probably no surprises at least.

I think it is a little disingenuous to attribute the low production solely tp the two week plant shutdown, which accounts for less than half the 36% drop in production (2 weeks out of 13 is around 15%).

A year ago, low production for the 2017 September quarter was attributed to the pond balancing issues and winter weather:

As far as I am aware, the pond rebalancing should be complete by now, and the pond design is supposed to produce sufficient inventory for the plant to operate a capacity all year round.

Also from the Sept 2017 report:

So barring undisclosed plant issues, the only conclusion seems to be that the ponds aren't delivering as designed, and this is consistent with the fact that the planned capacity of the Stage 2 ponds is double the capacity of the Stage 1 ponds.
Agree dyeman. It is clear that the pond capacity is insufficient and hinted at previously by a proposal to install evaporators/crystallizers. My take is that it is an unannounced strategy to increase pond capacity as the answer to increasing production during winter. There was a response to a question that seemed to discount the evaporators to "test work" (which I thought were proposed as the solution to low winter evaporation) and seemed to promote the new ponds for use in stage 1. My bet is that they have hidden the stage 1 pond additions in the stage 2 proposal. This may result in better long term economics but delays full "nameplate" for probably another year - at least.

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As I read the announcement, the evaporators/crystallisers were framed as contingency for bad weather rather than something that would be used all the time (or at least for a significant part of winter).

As it is, looks like they're not operating yet so no benefit during last 2 quarters of low evaporation. At the rate they're moving, increased pond capacity may have rendered them redundant by the time the next winter period comes around.

Agree that they have been less than forthcoming in admitting to Stage 1 pond capacity issues. So much for full and continuous disclosure . . .

ORE Price at posting: $3.19 Sentiment: Hold Disclosure: Held
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As I read the announcement, the evaporators/crystallisers were...

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