Ann: Makuutu Rare Earths Exploration Target Increases by 50%, page-76

HI @ChinaSyndrome

I have tagged you here to respond to your uncited, unreferenced and incorrect post on the PM8 threads. As stated, i did not want to get baited into a discussion on the incorrect thread.

If you like to post misinformation about IXR it's best to keep it to the correct thread such that the subsequent posts aren't removed for being off-topic.

Post #:50060261 relates to china's queries which have a lot of errors. I will go through it piece by piece. Most if not all has been answered before.

For those that want the history of things i have answered this poster the following posts relate;
Here the running list i'm keeping of items i've addressed and proven to be incorrect;

basket pricing IXR - wrong
strip ratio - wrong
location of project - wrong
biol in a desert - wrong
grade of biol - wrong
throughput of project - wrong
Concentrate grade - wrong
Payability - wrong
concentrate pricing - wrong
location of lake - wrong
hydrogeology of water table - wrong
how to dewater - wrong
environmental practices - wrong
acidity effecting viability - wrong
Radioactive tailings - wrong

Post #:46430693
Post #:46408562
Post #:46411487
Post #:45386937
Post #:42822208
Post #:42828712
Post #:42830011
Post #:43161628
Post #:43165240
Post #:45387348
Post #:45391890
Post #:45397395
Post #:45402567
Post #:46385531
Post #:46388255
Post #:46392020
Post #:46394708
Post #:46395137
Post #:46396085
Post #:46397408
Post #:46405745
Post #:46406390
Post #:46406561
Post #:46406672
Post #:46407569
Post #:46408562
Post #:46411487

This being the most recent and comprehensive post regarding economics. This one ceased the debate because it exposed the calc's from chinasyn as misleading. Even ex-holders supports my working.
Post #:46402535

Anyways thats the history but lets run over old grounds in relation to the new post.

CS
I am still waiting for an explanation as to how they propose to protect the Environment by Wet mining in a major environmentally sensitive Watershed?



You mean, the same explanation i have posted around 6-7 times now. here it is again See above process circuitry whereby it's closed circuit and re-agents recirculated. Can also be assured of the ESIA study being performed as part of the scoping study.

CS;
And, A full break down of their operating expenses considering they have to mine and process ~2000t of clay (waste ?) to produce 1t of concentrate ?

So you want me to do the SS for you? bit lazy but i have computed the economics and operations costs many times. Peer analysis of operational cost has proven as such that operational cost i expect to be around 10-15USD/kg. There are deposits such as tantalus, serre verde, biolantanidos which have feasibility studies to support this. DYOR but that is the basic im working off. Post #:50037319 relates to economics. Post #:47868809 here is the detailed breakdown to determine cost per mined/t

CS
And, How much per Ha/house/Church are they prepared/going to compensate the numerous current occupiers ? and is that a FAIR price ?

Probably forms part of the ESIA, and as you understand you need to delineate an economic resource before moving towards mining licences which is approved my local government. i answered you again on the PM8 thread on this Post #:48168047

"How does IXR expect to cover the IMO massive cost of Rehabilitation, Land acquisition and Pollution control ? Seeing as they are planning to operate on densely populated ground, near the shore of and within the water catchment of Lake Victoria ???."

Actually i did, Post #:45397395, Post #:46395137

You state "massive rehabilitation cost". Whats the cost? any cited resources or just an off cuff comment.

As per below company announcement.


And additionally here Post #:46407569 and Post #:46399643

I also discuss relocation cost. by infering that only 10% of the area will be potentially unaccessable. Post #:43161628 Post #:46399643

"All for what ? The last time I looked their in ground grades are averaging < 850 ppm and Met' work is suggesting <60% recovery !!!,"

Which is largely in line with what chinese producers and also biolantandos were getting? BTW IXR produced a 90% concentrate.



"China's first step in cleaning up its REE Industry was to shut down most of its Ionic Clay mines (worked at ~ 500-1500ppm )* as the pollution they cause is without question Unsustainable, they are now moving onto the even bigger problem of Bayan Obo. Which is why they need to now import REE feedstock."

Wrong, the ionic clays in china still produce 90% of HREO globally.

"If the Chinese can not make sufficient $ out of Ionic Clays to cover Rehabilitation costs (not even considering acquisition costs), what makes them think that IXR can, in a far more environmentally sensitive area?"

Wrong, the ionic clays in china still produce 90% of HREO globally.

Post #:46466117"

also i estimated tha up to 10% of the land is currently housed by existing infrastructure. Post #:43165240
thus if they didn't want to relocate anything or anyone, probably only 50mT of the 500mT+ won't be accessible. Maybe means they go from a 40y mine life to 35y.

CS:
Even at todays high RE prices, the recovered value is only ~ $30/t before dilution/depletion, and if they don't have their own refinery they will be lucky to get paid 30% of the contained TREO value by the Chinese Refiners (Shanghai price for a 90% TREO concentrate is currently around US$7,500/t ).

The above is total innaccurate on all fronts. 30/t? lol, try $34USD/kg. At todays prices its around $40usd/kg


Also might want to do more research or cite reference to a payability of 30% for 90% concentrate. It's actually around 70-80% you should review the links the company has cited in it's presentation. Suggesting a MREC at 90% level would get 30% payability is facetious, innaccurate, misleading and flat out wrong. You might want to moderate post unless you can cite evidence which suggested otherwise.

If you think 90% concentrate is worht 7500/t then pm8's 30% concentrate is worth 2500/t. Assume you 30% payability and then you're at 700/t. PM8's AISC cost was 1.16t/usd so you're comapny would be making no profit. are you suggested PM8's PFS was totally inaccurate? I'm not, i'm suggesting your figures are.

PM8 used a revenue of 3.88usd/kg i.e. 3880usd/t for a 35% concentrate. Note that i'm able to prove how PM8 devised their cost for product. And i have applied this to Lynas against their actual financials. The issue with relying on market pricing is that oils and oils. Look at spodumene. yes SC6 has a based price but is impacted by deleterious elements. rare earths as you well understand is extremely more complex for the pricing methodologies for ones product. Each product from a rare earth developer is unique and thus is the price. Better basket of elements, better price. better concentrate, better price, Carbonate/concentrate better price.



If you have prevailing concerns or genuinely want answers don't just rely on myself an anonymous poster on HC to educate you, i would reach out to management whom can provide you more answers.

It's disappointing you only post on other rare earth stocks to post infacgtually. I'm objective to all stocks and have commended the stock you hold where appropriate.

SF2TH