- Recoveries include increases of 35% for platinum and 13% for nickel .
- Combined with the large Resource increase, increased recovery makes the upcoming PEA certain to be very good.
- Institutional investors have been waiting for this update - the big fall mining conferences start next week.
Take away message is that this project now matches the recoveries necessary to meet most smelter needs, as noted: "Based on our review of other commercial bulk nickel concentrates and smelting contracts, the Company and its concentrate marketing consultants believe that such a bulk concentrate is likely to have strong interest from multiple existing smelters."
"Based on the work with XPS and SGS labs, the Wellgreen mineralized material shows excellent metallurgical response that is typically above that observed in other similar grade deposits documented in their global databases."
These results are what has been necessary in order to attract a JV partner to advance the project. Given that most the world's platinum and palladium comes from Russia and South Africa, we believe end users of these critical components will be interested in securing a politically secure, reliable supply.
Investor sentiment continues to be challenging, however, we believe institutions have been waiting for these recovery studies and will look towards any dip as a great entry point.
Clearly a great deal to work has gone into this update and we are very pleased with the results:
Wellgreen is funded to advance the project and has no need of any near term additional financing. The Company has plans to meet with institutional investors at several conferences over the month of September which will be followed by the updated PEA.
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Additional disclosure: This report is for informational purposes only and is not a solicitation of any security purchase or sale. Opinions expressed herein by the author are not an investment recommendation and are not meant to be relied upon in investment decisions. The information upon which this material is based was obtained from sources believed to be reliable, but has not been independently verified. Therefore, Fincom Investment Partners cannot guarantee its accuracy. Any opinions or estimates constitute our best judgment as of the date of publication, and are subject to change without notice. We recommend investors conduct thorough investment research of their own, including detailed review of the related Companies' SEC filings, and consult a qualified investment adviser.