IXR (ASX) Ann: Phase 4 Resources Drilling to Commence at Makuutu

Originally posted by Radegast ↑

I generally agree with your analysis here, but I have substantive doubts that the recoveries reported by Biolantanidos are better; the data from their presentations I found somewhat confusing and I too needed help to interpret.

Generally, when a company reports metallurgical recovery to product, it is relative to the amount of the element in the resource or reserve. This makes economic analysis relatively simple and straight forward.

The recovery I have seen Biolantanidos report is named a "DD Recovery" or "double desorption" recovery. To my understanding, this reports the recovery of rare earths from those that are in ionic or soluble forms within the mineralisation, not the recovery of rare earths from ALL rare earths that is within the mineralisation. Confusing, I know, but here is an example to explain:

Example of regular recovery calculation:
REE in a parcel of mineralisation = 100 kg
Metallurgical recovery = 50%
Overall Metallurgical recovery = 50%
Mass of REE product = 50kg

Example of incorporating a double desorption recovery calculation:
REE in a parcel of mineralisation = 100 kg
Amount of contained REE in mineralisation that is in soluble or colloidal form = 30% (determined by double desorption "DD" test)
Amount of REE in soluble or colloidal form that is recovered by single desorption test = 90% (aiming to replicate commercial reality)
Overall metallurgical recovery = 30% x 90% = 27%
Mass of REE product = 100 kg x 27% = 27 kg

The numbers here are for illustration only. The numbers seem to vary for different elements and also within the dirt. I have been unable to find detailed Biolantanidos data to make a meaningful comparison with IXR.

To summarise, I doubt that the metallurgical recoveries for Biolantanidos are better than for IXR.

All in my view, and please each DYOR.

Expand

Hi There,

This hypothesis is entirely possible. Tim has mentioned the double desorption loophole which obfuscates recovery details. Probably why I thought it was positive in IXR's SS that there was reports of the different element types in terms of recovery. clay/upper saprolitemottled.

Also appears they are using a mass recovery figures which as you accurately indicate is more representative.

Agree of Biol data, it's few and far between and at times conflicting - Best outcome will be the PFS from hothschild.

I usually share most my links but some sources i'm requested to not pass on. Below is a snip from a presentation which calls out the double desorption recoveries. At the later part of the presentation they report project recovery as 88%.

https://www.irvresources.com/assets/docs/projects/mulanje-ni43-101-2011.pdf
https://ejatlas.org/conflict/mulanje-massif-rare-earth-mineral-exploration-malawi
https://www.sharecast.com/news/aim-bulletin/altona-agrees-to-acquire-majority-stake-in-chambe-basin--7528008.html
https://mininginmalawi.com/mining-in-malawi-436/
https://webfiles.thecse.com/sedar_filings/00037915/1701301301341853.pdf
https://www.mwnation.com/second-phase-hunt-for-rare-earths-starts/
https://www.sciencedirect.com/topics/earth-and-planetary-sciences/ion-adsorption
https://www.goldseiten.de/artikel/154918--Gold-Canyonund039s-Projects-and-Corporate-Update.html should provide guidance to the releases for Chambe which Gold Canyon done.
https://www.yumpu.com/en/document/read/46172272/malawi-ni-43-101-december-2011-gold-canyon-resources-inc/7 here’s the NI43-101 for Malawi project.
https://www.mkango.ca/i/pdf/NI43-101-Songwe-REE-Project-22-Nov-2012-low-res.pdf (songwe project (carbonite), not Ionic Clay but might be of interest.)
https://mininginmalawi.files.wordpress.com/2019/04/2019-mkango-resources-ni-43-101-technical-report.pdf (songwe) 200m USD

https://links.sgx.com/FileOpen/BDA%20TREM%20Project%20Valuation%20for%20ISR%20-%20September%202017%20-%20Final.ashx?App=Announcement&FileID=471590
^^tant tech report.

Some general links attached from an email I sent recently whom was enquiring on some sources in general.

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Last 1.0¢		Change 0.001(11.1%)		Mkt cap ! $48.69M

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