insitu resource value $15billion for lake d

Have a little read of Rewards web-site if you may have forgotten why RWD was once North of $2.

In actual fact the insitu value was calculated at $632/tonne... PotAsh is now $860...

So insitu of $20 billion...


Resource Estimation

The resource estimates for total contained Sulphate of Potash (SOP) are as follows:

Lower estimate
7,705 Mt @ 3.17kg/t for 24.43 Mt K2SO4

Upper estimate
8,635 Mt @ 3.17kg/t for 27.37 Mt K2SO4

The difference between the upper and lower figure relates to depth and area assumptions for the lake margins.

The average potassium sulphate (SOP) content per tonne of lakebed sediment is derived from the analysis of the whole drill core. The average of 3.17kg/t translates to 6.17kgSOP/m3 of lakebed material. Higher grade areas of the lake reported 10.40 kgSOP/m3.

In practice the recovery of SOP will be via the (solar) evaporation of the entrained brines. Brine samples drawn from drill holes have returned SOP values as high as 20.01g/L. Of significance is the average (arithmetic mean) SOP value of 12.56g/L for all brine samples collected. Vigorous brine flow was encountered in all of the holes drilled. Brine flow parameters are currently being determined.

SOP is used extensively as a potash source in fertilizers. Imports of potash to Australia currently exceed $200 million per annum at the retail level. The current base price (June delivery) for SOP is $632/tonne, giving the in situ resource a value ca $15 billion for Lake Disappointment. There are no potash producers in Australia and thus imports currently account for 100% of the nations potash requirements.

http://www.rewardminerals.com/index.php?option=com_content&task=view&id=6&Itemid=24