I think 60Mt @ 2%Nb is in the bag with a further >120Mt @ around 1%.
If you ignore the low grade this is what the high grade potential is:
600kt Nb (50% recovery) gives a highly profitable mine life of 20years @ 30kt per year.
600kt Nb @ $50,000 AUD = $30B
600kt Nb = 900kt FeNb (65%)
$30B X 2% (resource value) = $600M = $10.00 per share (without the 120Mt lower grade).
Conservative estimates but shows how much value is here.
Could see a lot of cashed up investors seeking a home for AZS windfalls???
Good luck guys.
Ann: West Arunta Project - Luni Assay Results, page-203
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