BPL 0.00% 1.9¢ broken hill prospecting limited

BPL's Heavy Metals

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    Amigos, one of the reasons that many shareholders are unhappy with Trangie and his mob, is the chronic lack of exploration. This post is to spotlight the need for real action by BPL to explore their Heavy Metals (HM). I've copied below a section from the first page of an exciting announcement that they made on 11th February 2016. Yes, it was 3 years ago and they were outlining the scoping study which was planned to produce strong cash fow, low capex, quick payback and good profitably. Yes, they lost the Copi North HM tenement in a legal battle (does that sound familiar), but they have plenty of other HM tenements which they have not explored since then. They need to stop talking and procrastinating. Their reputations are at stake and our support of the company is in the balance.

    Copied from 11th Feb 2016:
    "The Directors of Broken Hill Prospecting Limited (‘BPL’ are pleased to announce positive results from a recently completed Scoping Study* on production of Heavy Mineral Sand (HMS) concentrates at the Copi North HMS deposit.
    Study Outcome Highlights
     Mining: Shallow (6-25m cover), free-digging, unconsolidated sand
     Base Case: wastere strip ratio 3.6:1, mining an average grade of 9% HMS
     1.4Mtpa throughput with an initial 5 year mine life with capacity to extend several years
     Flowsheet: Unique modular mobile plant design utilising the latest industry proven gravity spirals and magnetic separation equipment
     Production: 100,000tpa heavy mineral concentrate split into two product streams: Magnetic (ilmenite) and Non-Magnetic (zircon-rutile-leucoxene)
     Capital Payback: 30 months
     Capex (+/-35%) excluding contingency: AUD21.8m
     Net 46 month life of mine operating cash flow after costs: AUD45.2m derived from AUD163.6m of total revenue
     Feasibility Studies to commence after completion of drilling aimed at increasing resources beyond current resource boundaries to provide an 8-10 year mine life
     Sensitivity Analyses:
    “Each year of additional potential production adds approximately AUD12M to the undiscounted net cash flow (EBITDA)”
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