mate thank you for providing some constructive input at last, I...

mate thank you for providing some constructive input at last, I knew you had it in you

lets discuss each point you raised:-

goofy:. "you can't using REO prices to determine a basket price when NTU are selling a mixed concentrate"

LTL response: I have applied a 10% discount to the REO prices and even this may be too much of a discount based on what credible industry expert Jack Lifton had to say on 27 May 2015 said:-

"With regard to mixed concentrates of clean SEGs and HREEs that have been produced, for example, by Texas Rare Earth Resources I am very reliably informed that such materials can be sold into China or Viet Nam at a small discount to the prices that can be obtained for the individual separated SEGs and HREEs. Therefore at this moment it is problematic whether or not the cost of a separation plant is justified for SEG and HREE separation in-house. -

Source: http://investorintel.com/technology-metals-intel/a-mixed-con-is-a-mixed-blessing-in-rare-earths/#sthash.i6wim747.dpuf

So yes I can use the REO basket price of what Northern intend to produce provided I discount it appropriately which it would appear I have.

now the next constructive point you raised:-

goofy: “Also raised the issue of how you determined mining cost savings. The "indicated" 40% cost savings relates to underground mining only. What percentage of total mining costs does underground mining make up?”

LTL response: The average cost for open pit mining is $3.91 per tonne (ore and waste) and the underground mining cost is $101 per ore tonne. (Page 50 of the DFS). So the DFS reveals that open pit mining represents only 4% of the total mining costs, whilst underground mining represents 96% of total mining costs.

Mining (average over LOM) is $10.90 kg (page 48 of the DFS) x 96% = $10.46 kg x 40% saving = $4.18 kg saving
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you see dude my numbers are credible - very credible

in fact your questions have enabled me to discover further savings in production costs per kg of carbonate that I have not already accounted for, which I will detail and post separately with an updated spreadsheet, but for now the following will have to do:-



Northerns project is viable - robustly so

best to all long term shareholders

P.S. dude please keep the constructive questions coming - you're helping me substantiate my case - lol