It appears likely that a minimum mine resource of 10mt @ 1.5% Nb will be defined before the end of 2023.
150,000 tons of niobium resource must have an in ground value of around $5000 per ton given the global price of $67,000 AUD per ton for Ferro Nb.
150,000 X $5000 = $750m
Divide by SOI (53M) = $14.50 per share without moving a bucket of dirt,(wiwo price).
WA1 has a good chance of exceeding this target and a larger deposit is probable?
It is only a matter of time before large global steelmakers and other interested parties will be pounding on WA1's door!
Ann: Institutional Placement, page-308
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