The wet plant update announcement has 6.25% con at 76% recovery for a 1.37% weight split to con.
This calculates to about 0.11% feed grade which is 4 times the resource statements head grade. If that's the approximate cut-off then the project would look better for mine.
I don't really know the cost of the dry treatment but you'd want to hope that the dry recovery is at least 90% or else your total recovery is going to be pretty poor. For instance if you assume 70% recovery in dry processing, as you did above, you're down to around 53% total recovery if wet recovery is 76%. Recovery is king in treatment plants. The cost to present the ore to the plant is fixed -how much comes out the other end determines how much money you make obviously, therefore the more of the good stuff that you feed in that reports to the concentrate the better. Recovery must be achieved at a saleable product grade though.
Its early days for them. I'd work on getting better wet recovery and drop it's con grade down maybe. It shouldn't be too hard to get good con grade through the dry plant. The met consultants should be able to offer plenty to try there. Lots of things to consider and lots of variables also.
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